Albemarle reports growth in first quarter 2012 results

Albemarle Corporation reported first quarter 2012 earnings of $108.0 million, or $1.20 per share, compared to first quarter 2011 earnings of $106.6 million, or $1.15 per share. The Company reported net sales of $711.7 million in the first quarter of 2012 compared to net sales of $696.5 million in the first quarter of 2011.
 
Catalysts generated net sales of $293.5 million in the first quarter of 2012, a 12 percent increase over net sales in the first quarter of 2011, due mainly to favorable pricing. Catalysts segment income was $82.2 million in the first quarter of 2012, up 13 percent over first quarter 2011 results of $72.6 million due primarily to favorable pricing partly offset mainly by higher input costs and lower equity income versus the first quarter of 2011.
 
Polymer Solutions delivered net sales of $228.1 million in the first quarter of 2012, a 12 percent decrease over net sales in the first quarter of 2011, with favorable impacts from pricing being offset overall by lower volumes. Segment income for Polymer Solutions was $53.6 million in the first quarter of 2012, a 23 percent decline from $69.5 million in the first quarter of 2011, due primarily to lower volumes as well as lower equity income, partly offset by favorable pricing and lower charges attributable to the noncontrolling interest in our Jordanian joint venture.
 
Fine Chemistry net sales in the first quarter of 2012 were $190.1 million, a 7 percent increase over net sales in the first quarter of 2011, due mainly to favorable pricing and volumes. Segment income for Fine Chemistry was $38.6 million for the first quarter of 2012, over 30 percent higher than first quarter 2011 results of $29.5 million, due primarily to favorable pricing and volume performance and lower charges attributable to the noncontrolling interest in our Jordanian joint venture, partly offset by higher input costs.

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