March 17, 2017 (Update) - On March 1, 2017, Trecora Resources reported its fourth quarter and full year 2016 results. Trecora Resources reported that its annual Total Revenue declined from $241.98 million in 2015 to $212.40 million in 2016 and that its Net Income increased from $18.60 million in 2015 to $19.43 million in 2016. In addition, Trecora Resources reported announced that its Audit Committee, 'following consultation with management and discussion with the company's independent registered public accounting firm . . . concluded that there were errors in the accounting for its equity in earnings from its investment in AMAK in Q2 and Q3 2016.'
January 19, 2017 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Trecora Resources (NYSE:TREC) was announced over potential breaches of fiduciary duties by certain officers and directors at Trecora Resources.
The investigation by a law firm concerns whether certain Trecora Resources officers and directors breached their fiduciary duties.
Sugar Land, TX based Trecora Resources, formerly Arabian American Development Company, is engaged in manufacturing of specialty petrochemical products and synthetic waxes, and providing custom processing services. Trecora Resources reported that its annual Total Revenue declined from $289.64 million in 2014 to $241.98 million in 2015 and that its Net Income increased from $15.57 million in 2014 to $18.60 million in 2015.
Shares of Trecora Resources (NYSE:TREC) grew from $9.03 per share in February 2016 to $14.80 per share on January 10, 2017.
On January 19, 2017, NYSE:TREC shares closed at $13.00 per share.