Intrepid Potash reports drop in net income, rise in sales in fourth quarter

Intrepid Potash reported a 41% drop in net income for the fourth quarter , to $14.5 million. Earnings per share of 19 cts/share fell below analyst estimates of 24 cts/share, according to Thomson Reuters (New York). Net sales increased to $110 million, up 6% year-on-year. Looking forward, Robert Jornayvaz, executive chairman, says the company sees favorable trends in the coming year. “Specifically, the high commodity prices and low stocks-to-use ratios should have farmers looking to maximize yields through a balanced fertilization approach, which...

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