Catalyst Unit Lifts Albemarle’s Earnings

Albemarle reported second-quarter net income up 8%, to $61.7 million (67 cts/share), excluding a $3.2-million charge in the year-ago quarter. Sales rose 10%, to $621 million. Operating profit was $77.8 million as strong performance in the company's catalysts and fine chemicals business segments was partially offset by declines in the polymer additives business segment. “While we are facing very tough inflationary pressures of over $45 million this quarter our businesses have been able to respond and manage margins and profitability very well,” says...

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