* EPS of 30 cents, revenues $419.8 million
* Sees much stronger results for second quarter
* Shares climb 2.6 pct in premarket trade
NEW YORK, April 21 (Reuters) - Fertilizer maker Terra Industries Inc TRA.N reported a steep decline in first-quarter profit, hurt by weak demand for nitrogen and ammonia, but said it expects the second quarter to be much stronger.
The company, which is the target of a hostile bid from CF Industries Holdings Inc (CF.N), said its net profit fell to $30 million, or 30 cents per share, from $100 million, or 97 cents per share, in the year- earlier quarter.
Revenues fell 27 percent to $419.8 million from $574.7 million.
Excluding production curtailment and plant maintenance costs, Terra’s first-quarter earnings were 39 cents per share. Analysts had, on average, expected the company to post earnings of 42 cents per share on revenue of $360.8 million.
Shares in Terra rose 2.6 percent in light trading volume in premarket action. (Reporting by Matt Daily, editing by Gerald E. McCormick)