Innophos Earnings Up, But Company Expects a Challenging 2009

Innophos (Cranbury, NJ) today reported an increase in fourth-quarter net income to $52.3 million from a loss of $3.9 million last year. Annualized net income for 2008 was $200.5 million, compared to a loss of $5.5 million for 2007. Earnings totaled $2.40/share for the quarter and $9.23/share for the year, compared to losses of 19/cts share and 27 cts/share, respectively, for those timeframes last year. Net sales totaled $216.4 million for the quarter and $934.8 million for the year. The company reported $125.3 million in cash and cash equivalents and $257.2...

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