TOR Minerals International reported unaudited consolidated financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net sales of $11.317 million against $10.870 million a year ago. Operating income was $0.366 million against $0.327 million a year ago. Net income was $0.296 million against $0.113 million a year ago. Earnings per diluted share were $0.09 against $0.03 a year ago. Net sales increased 4% during the third quarter of 2014, as sales growth in the Specialty alumina and Barium Sulfate products was partially offset by a decrease in TiO2 Pigment Sales.

For the nine months, the company reported net sales of $36.841 million against $33.029 million a year ago. Operating income was $1.698 million against $0.674 million a year ago. Net income was $1.156 million against $0.188 million a year ago. Earnings per diluted share were $0.34 against $0.06 a year ago. Net cash provided by activities was $4.608 million against net cash used in operating activities of $1.447 million a year ago. Additions to property, plant and equipment was $1.386 million against $3.529 million a year ago. The company spent approximately $1.4 million of capital expenditures during the first 9 months of the year. The spending was primarily for equipment designed to increase the production capacity at European ALUPREM facility and normal maintenance CapEx at both U.S. and Malaysian plants.

The CapEx plans for 2014 called for normal maintenance CapEx activity, roughly in line with depreciation expense last year of approximately $3 million.