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Albemarle’s Second-Quarter Earnings Fall

3:46 PM MDT | July 22, 2009 | Nancy Seewald

Albemarle reported second-quarter net income of $38.5 million, down 38% from the year-ago period, on sales down 28%, to $445.3 million. The 2009 quarter included a pre-tax charge of $12.4 million related to last year’s sale of a plant in France, as well as a $9.2-million benefit due mainly to a tax settlement. Albemarle’s polymer additives unit posted income down 45%, to $14.7 million, on lower sales and production volumes. Catalysts posted income down 12%, to $37.7 million, on higher metals costs, lower FCC refinery catalysts volumes, and unfavorable...

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