MOSCOW (MRC) -- The developer, manufacturer and marketer of specialty chemicals producer Albemarle reported Q4 net income of USD182.7 million or USD1.55 per share, compared with the prior-year period’s net loss of USD13 million or USD0.24 loss per share, said Wallstreet.
Adjusted net earnings were USD1.03 per share, ex one-time items, versus USD0.99 per share in the same quarter the previous year. The Capital IQ analyst estimate is for USD0.83 EPS. Revenue was USD930.4 million, up from USD598.6 million in the same quarter last year. Analysts were expecting revenue of USD885.7 million. The company expects fiscal 2016 EPS of USD3.45 – USD3.80 versus the Street view is of USD3.89 EPS.
Albemarle attributed the increase to its acquisition of Rockwood Holdings, which closed in January 2015. The gain from Rockwood was partially offset by lower sales volumes, unfavourable prices and mixes in some of its businesses as well as unfavourable currency exchange rates.
Albemarle makes catalysts, lithium and lithium compounds, bromine and bromine derivatives and surface-treatment chemicals.
MRC