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Albemarle Reports Record Quarterly Net Sales and Operating Results
Date:4/21/2008

by declines in the Polymer Additives and Fine Chemicals business segments. The Company reported net sales in the first quarter of 2008 totaling $668 million compared to first quarter 2007 net sales of $589 million.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050801/ALBEMARLELOGO )

Commenting on results, Mark C. Rohr, President and CEO, stated, "I am extremely pleased with the performance of our company this quarter. Starting the year off with double-digit sales growth over first quarter 2007, we delivered record sales revenue and operating results. These results are particularly rewarding given the unprecedented raw material and energy inflation. While there is much uncertainty facing both U.S. and global economies, we believe our business strategy and our technical foundation will allow us to weather these headwinds and drive shareholder value."

Quarterly Segment Results

Polymer Additives delivered record net sales for first quarter 2008 of $244.6 million, a 14 percent increase versus the first quarter of 2007. Net sales increased in our flame retardants primarily due to higher volumes partially offset by slightly lower pricing due to product mix. Net sales increased in our stabilizers and curatives portfolio due primarily to improved pricing and higher volumes. Polymer Additives segment income for the first quarter of 2008 declined 17 percent from the first quarter of 2007 to $29.8 million due primarily to higher raw material costs, partially offset by improved product volumes, pricing and mix.

Catalysts generated record net sales for the first quarter of 2008 of $276.1 million, an increase of 17 percent versus first quarter 2007, due primarily to improved pricing in FCC refinery catalysts, improved product mix in HPC refinery catalysts and polyolefin catalysts, as well as pass through of higher materials costs and favorable foreign currency
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SOURCE Albemarle Corporation
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