Calumet Specialty Products Partners, L.P. last Wednesday reported net income for the quarter ended June 30, 2013 of $7.8 million compared to net income of $65.7 million for the same quarter in 2012. Second quarter 2013 results include $4.0 million in non-cash unrealized derivative losses, compared to $15.3 million of non-cash unrealized derivative losses in the second quarter 2012. Adjusted EBITDA was $70.0 million for the quarter ended June 30, 2013, as compared to $122.3 million in the second quarter of 2012.
Specialty products segment gross profit decreased 23.0%, or $20.4 million, to $68.2 million in the second quarter 2013, from $88.6 million in the second quarter 2012 and fell to $131.4 million in the first six months of 2013, from $155.1 million in the first six months of 2012. The quarter over quarter decline was primarily attributable to a reduction in the average selling price per barrel for specialty products, driven primarily by lower lubricating oil and asphalt prices, in addition to lower sales volumes of primarily lubricating oils and asphalt. These reductions were partially offset by the gross profit contribution from the company's Royal Purple and Montana acquisitions.
Lubricating oils volume fell 9.2% to 13,642 bpd in the second quarter 2013, from 15,027 bpd in the second quarter 2012 and also fell 9.2% to 13,327 bpd in the first six months of 2013, from 14,674 bpd in the first six months of 2012.