People & Business :: Earnings/Finance
Innophos posts lower profits
2:48 PM MDT | October 28, 2013 | Rebecca Coons
Innophos Holdings reports net income of $10.9 million for its fiscal third quarter ended 30 September, down 34.5% year-over-year (YOY). Adjusted earnings slipped 24.3% YOY, to 56 cts/share, missing analysts' estimates of 81 cts/share, as reported by Thomson Reuters (New York). Net sales rose 4%, to $220 million, as a 7% sales gain in specialty phosphates more than offset a 15-20% decline in granulated triple superphosphate (GTSP) fertilizer coproduct prices. "We continued to make good progress during the third quarter on our strategic objectives and are...
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