Albemarle profit drops 15 percent on weak catalyst sales

Wed Oct 17, 2012 4:14pm EDT

Oct 17 (Reuters) - Chemicals maker Albemarle Corp posted a 15 percent drop in quarterly profit on Wednesday due to weak sales of catalysts used by petroleum refiners.

For the third quarter ended Sept. 30, the company posted net income of $99.3 million, or $1.10 per share, compared with $116.1 million, or $1.28 per share, in the year-ago period.

Revenue fell 9 percent to $661.2 million.