Innospec Inc. reported consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company's total net sales were $205.5 million against $254.2 million a year ago. Operating income was $18.9 million against $41.2 million a year ago. Income before income taxes was $13.2 million compared to $41.4 million a year ago. Net income was $11.4 million or $0.47 per diluted share against $35.6 million or $1.45 per diluted share a year ago. Adjusted EBITDA was $21.2 million against $42.1 million a year ago. Net cash generated from operations was strong in the quarter at $29.8 million, compared to $35.5 million reported a year ago. Adjusted non-GAAP income before income taxes was $21.7 million compared to $31.7 million a year ago. Adjusted non-GAAP net income was $19.1 million or $0.78 per diluted share against $29.0 million or $1.18 per diluted share a year ago. Capital expenditures during the quarter were $4.7 million.

For the nine months, the company reported total net sales of $645.6 million against $766.3 million a year ago. Operating income was $73.1 million compared to $122.0 million a year ago. Income before income taxes was $74.1 million compared to $117.1 million a year ago. Net income was $59.2 million or $2.42 per diluted share against $88.0 million or $3.57 per diluted share a year ago. Adjusted EBITDA was $98.3 million against $113.5 million a year ago. Net cash provided by operating activities was $86.8 million compared to $90.6 million a year ago. Capital expenditures were $12.2 million compared to $12.0 million a year ago.

For the full year of 2016, the expected tax rate is anticipated to be 20%.