MOSCOW (MRC) -- Albemarle Corp. (ALB) reported a fourth-quarter loss of USD18.5 million, after reporting a profit in the same period a year earlier because of the costs associated with its Rockwood acquisition, pensions and lower sales, said the company in its press release.
Rockwood announced the completion of the USD6.2bn acquisition earlier this year.
On a per-share basis, the Baton Rouge, Louisiana-based company said it had a loss of 24 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 99 cents per share.
The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of USD1.01 per share.
The specialty chemicals company posted revenue of USD598.6 million in the period, also falling short of Street forecasts. Analysts expected USD648.6 million, according to Zacks.
For the year, the company reported profit of USD133.3 million, or USD1.69 per share. Revenue was reported as USD2.45 billion.
Albemarle shares have dropped almost 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit USD55.37, a decrease of 12 percent in the last 12 months.
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a premier specialty chemicals company with leading positions in attractive end markets around the world. With a broad customer reach and diverse end markets, Albemarle develops, manufactures and markets technologically advanced and high value added products, including lithium and lithium compounds, bromine and derivatives, catalysts and surface treatment chemistries used in a wide range of applications including consumer electronics, flame retardants, metal processing, plastics, contemporary and alternative transportation vehicles, refining, pharmaceuticals, agriculture, construction and custom chemistry services.
MRC