GrafTech International Ltd. (NYSE: GTI) has reported lower second-quarter earnings than a year earlier, due in part to various one-time items in both periods.

The producer of graphite electrodes and other carbon-based products said its net income in the quarter fell 30%, to $28.6 million from $40.7 million in the second quarter of 2010. Per-share profits declined even more, dropping 41% to 20 cents from 34 cents, because of more shares outstanding this year.

GrafTech said results in the latest second quarter included a $7 million after-tax charge for the accounting impact of three acquisitions. The company said results in the second quarter of 2010 included $9 million in currency gains from the recalculation of intercompany loans and $7 million in acquisition expenses.

GrafTech's interest expenses rose to $4.6 million from $1.3 million.

Sales at GrafTech increased 26%, to $320.2 million from $254.9 million.