Albemarle Reports Record Quarterly Net Sales and Operati...( RICHMOND Va. April 21 /- Firs...),Health

RICHMOND, Va., April 21 /PRNewswire-FirstCall/ --

First quarter highlights:

-- Record quarterly net sales of $668.2 million, up 13.4% year over year

and 11.5% sequentially

-- Record net income, excluding special items, of $65.4 million, or $0.70

per share, up 12.5% over the same period last year

-- Record quarterly Catalysts segment income of $51.7 million resulting in

segment income margins of 18.7%

First Quarter

Ended March 31,

In thousands, except per share amounts 2008 2007

Net Sales $ 668,177 $ 589,238

Operating Profit $ 83,814 $ 81,592

Net Income $ 63,261 $ 58,108

Diluted earnings per share $ 0.68 $ 0.60

Diluted earnings per share - special item $ (0.02) $ -

Diluted earnings per share excluding special item $ 0.70 $ 0.60

Albemarle Corporation (NYSE: ALB) reported first quarter 2008 net income of $63.3 million, or 68 cents per share, up from $58.1 million, or 60 cents per share, for the first quarter of 2007. Excluding $2.1 million of after tax special item charges, or 2 cents per share, related to severance in conjunction with personnel reductions at the Company's Richmond headquarters and Singapore sales office, first quarter 2008 net income was $65.4 million, or 70 cents per share. Operating profit increased to $83.8 million as performance in the Company's Catalysts business segment was partially offset
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