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Compass Minerals reports strong salt sales, potash constraints in earnings

3:04 PM MDT | July 29, 2013 | Lindsay Frost

A later than usual winter season helped salt sales for Compass Minerals in the second quarter, though potash constraints hurt its specialty fertilizer business. Net income of $10.6 million was up 11% year-over-year (YOY) with earnings per share of 32 cts/share, lower than analyst consensus of 40 cts/share, according to Thomson Reuters (New York). Sales fell 3% YOY, to $173.8 million—mostly due to the sulfate of potash constraints, the company says. “Compass Minerals generated strong cash flow from operations through the first six months of the year...

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