Loss on Thann
facility divestiture - (89,175) - (89,175)
Interest and financing
expenses (9,500) (10,759) (28,827) (33,415)
Other income (expenses),
net 828 1,007 3,411 (370)
Income tax (expense)
benefit (10,433) 23,330 (42,954) 952
Net income $59,099 $2,289 $171,070 $79,992
(a) Excludes the Thann facility divestiture charge and the Dayton facility
See accompanying notes to the condensed consolidated financial information.
Notes to the Condensed Consolidated Financial Information
(a) The three and nine-month periods ended September 30, 2006 include a
charge amounting to $89.2 million ($58.4 million after income taxes,
or 60 cents per share) that relates to the divestiture of the Thann,
France facility effective August 31, 2006.
(b) The nine-month period ended September 30, 2007 includes a charge
amounting to $4.9 million ($3.1 million after income taxes, or
3 cents per share) that relates to the closure of our Dayton, Ohio
fine chemistry facility.
( c ) On July 31, 2007, we acquired controlling interests in our two
antioxidant joint ventures in China: Ningbo Jinhai Albemarle
Chemical and Industry Co., Ltd. and Shanghai Jinhai Albemarle Fine
Chemicals Co., Ltd. Our ownership interests increased from 25
percent to 75 percent.
It should be noted that net income excluding the Dayton charge and net
income excluding the Thann charge are financial measures that are not
required by, or presented in accordance with, accounting principles
generally accepted in the United States, or GAAP. They are pres
|SOURCE Albemarle Corporation|
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