Albemarle Reports Fourth-Quarter Profits Up 21%, Beats Estimates (Update)

Albemarle has reported fourth quarter net income up 21%, to $99.4 million, compared with the year-ago quarter. Reported earnings of $1.11/share, beat average analyst estimates of $1.09/share. Fourth-quarter sales were up 17%, to $605 million, from the prior-year quarter. Catalysts segment income was $83.6 million in the fourth quarter, up 43%, “due primarily to favorable pricing gains while partly offset mainly by higher input costs and lower equity income versus the fourth quarter of 2010.” Catalysts posted fourth quarter sales of $289.5 million, up...

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