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Intrepid Potash earnings, sales drop

4:27 PM MDT | October 30, 2013 | Lindsay Frost

Intrepid Potash (Denver) today reported results for its third quarter—showing lower sales volumes due to price uncertainty for potassium and delayed harvest in portions of the United States. Net income dropped 93% year-over-year (YOY), to $2 million and includes a reserve established for previously recorded employment wage credits in New Mexico, and a lower of cost or market inventory adjustment, the company says. Earnings per share of 3 cts/share fell below analyst estimates of 9 cts/share, according to Thomson Reuters (New York). Sales of $70 million...

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