Baton Rouge-based specialty chemicals maker Albemarle Corp. saw its second-quarter earnings fall to $22.4 million, or 28 cents per share, compared to $82.7 million, or 98 cents per share a year ago.
However, those results were after adjusting for an after-tax loss of $60.3, or 76 cents per share, on the Albemarle’s antioxidant, ibuprofen and propofol businesses and assets to SI Group. Without those costs, Albemarle’s second-quarter profit would have been $86.8 million, or $1.10 per share.
The company reported net sales of $604.7 million in the second quarter of 2014, up from $576.8 million a year ago. The increase was driven mainly by higher volumes in catalysts, although those results were partly offset by lower volumes in the company’s specialty chemicals and performance chemicals segments.
Albemarle said it expects to close the $6.2 billion acquisition of Rockwood Holdings Inc. by the first quarter of 2015. Albemarle announced the deal for Rockwood, which produces the lithium and lithium compounds used in batteries, on July 15.