May 4, 2010 / 10:06 PM / 9 years ago

UPDATE 1-Intrepid Potash Q1 beats Street

* Q1 EPS $0.16 vs est $0.15

* Q1 rev up 21 pct, beats Street

* Potash volumes more-than-double during Q1 * Shares up 3 pct after market close

May 4 (Reuters) - Fertilizer maker Intrepid Potash Inc (IPI.N) posted a first-quarter profit that edged past analysts’ estimates, helped by higher sales volumes, sending shares up 3 percent in trading after the bell. For the latest first quarter, net income was $11.8 million, or 16 cents a share, compared with $24.7 million, or 33 cents a share, last year.

Total revenues for the quarter rose 21 percent to $107.4 million as potash sales volumes more-than-doubled.

Analysts, on average, expected the company to post earnings of 15 cents a share, excluding items, on revenue of $76.19 million, according to Thomson Reuters I/B/E/S.

The Denver-based company produces potash, a mineral used as a key fertilizer by farmers throughout the world.

Shares of the company rose 75 cents to $26.62 in Tuesday trading after the bell. They closed at $25.51 on the New York Stock Exchange. (Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Jarshad Kakkrakandy)

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