Fertilizer maker Intrepid profit slips as potash price weakens
* Q4 EPS $0.19 vs year ago $0.33
* Realized potash price dips to $479 per tonne
Feb 13 (Reuters) - U.S. fertilizer producer Intrepid Potash Inc reported lower quarterly profit on Wednesday as its average realized price for the crop nutrient potash slipped.
Potash is a key fertilizer ingredient that farmers use to maximize yields. Global prices weakened late in 2012, and Intrepid's realized price declined to $479 per tonne in the fourth quarter from $548 a tonne in the year-earlier quarter.
Denver, Colorado-based Intrepid, the largest producer of U.S. potash, reported after normal trading hours a fourth-quarter net profit of $14.5 million, or 19 cents per share, compared with a profit of $24.9 million, or 33 cents per basic share, a year earlier.
Revenue rose 6 percent to $110.9 million, with a larger quarter-over-quarter volume of potash sales.
Adjusted earnings per share were 26 cents, just ahead of the 24 cents a share that the Street was expecting, according to Thomson Reuters I/B/E/S.
Intrepid operates two production facilities in Utah and three in New Mexico.
- Total CEO de Margerie killed in Moscow as jet hits snow plow |
- Pistorius starts five-year term for killing Reeva Steenkamp
- Ebola crisis turns a corner as U.S. issues new treatment protocols
- Fashion designer Oscar de la Renta dead at 82 |
- U.S. Congress examining deal between NSA official, ex-agency chief