Albemarle releases first-quarter earnings

Albemarle, a manufacturer of polymer and fine chemicals, has reported first-quarter 2010 earnings of $63.3m (£41.3m), or $0.69 per share, compared to $25.4m, or $0.28 per share, for first-quarter 2009.  

First-quarter 2010 results include a $7m pre-tax charge of $4.6m, or $0.05 per share, after tax for restructuring costs related to planned reductions in force at the company’s Bergheim, Germany, site.  

Net sales in the first quarter of 2010 totalled $580.3m, compared to first-quarter 2009 net sales of $486.6m.