Earnings Rise at Innophos on Strong Phosphate Sales

Innophos reported third-quarter net income of $19 million (84 cts/share), up from a net loss of $2 million in the third-quarter of 2010. Sales were up 20% from the year-ago quarter, to $202 million, driven by strong result in the company’s specialty phosphates business.   Third-quarter net income included a net charge of $1.8 million after-tax for foreign exchange losses arising from a sharp fall in the Mexican peso at the end of the quarter and updates to the liability for expected future claims regarding Mexican water duties, the...

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