TOR Minerals International Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net sales of $9,889,000 compared to net sales of $12,992,000 for the same period a year ago. Operating loss was $2,227,000 compared to $2,603,000 last year. Loss before income tax was $2,184,000 compared to $2,695,000 last year. Net loss was $1,710,000 or $0.57 per basic and diluted share compared to $1,804,000 or $0.60 per basic and diluted share last year. Fourth quarter results reflect the continuing strength of specialty alumina products and the impact of the cost-cutting measures implemented in TiO2 business.

For the year, the company reported net sales of $46,730,000 compared to net sales of $46,021,000 for the same period a year ago. Operating loss was $529,000 compared to $1,929,000 last year. Loss before income tax was $741,000 compared to $2,440,000 last year. Net loss was $554,000 or $0.18 per basic and diluted share compared to $1,616,000 or $0.54 per basic and diluted share last year. Net cash provided by operating activities was $4,555,000 compared to $860,000 last year. Additions to property, plant and equipment was $2,064,000 compared to $4,230,000 last year. Revenue increased to 1.5%. The company spent approximately $2.1 million on capital expenditures during 2014.

For 2015, the company current capex plans call for a normal maintenance capex activity roughly in line with depreciation and amortization, which is approximately $3 million.