Compass Minerals profit beats estimates

Mon Jul 30, 2012 7:41am EDT

* Q2 adj EPS $0.31 vs est $0.26

* Revenue down 1 pct at $178.5 mln

July 30 (Reuters) - Compass Minerals International Inc's second-quarter profit beat market expectations, helped by a surge in specialty fertilizer sales.

The provider of highway de-icing salt and specialty fertilizer said its net income fell to $9.5 million, or 28 per share, from $14 million, or 42 cents per share, a year earlier.

Excluding one-time items, the company earned 31 cents per share.

Revenue dropped 1 percent to $178.5 million.

Analysts on average had expected earnings of 26 cents per share, on revenue of $179.8 million, according to Thomson Reuters I/B/E/S.

Specialty fertilizer sales jumped 14 percent to $56.2 million, helped by a 10 percent increase in sales volume.

The company expects its highway de-icing segment to report sales volumes of about 1 million tons for the third quarter, down from 1.9 million tons a year ago, hurt by carryover inventories following a mild winter.

Shares of the Overland Park, Kansas-based company closed at $74.14 on Friday on the New York Stock Exchange.

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