Rentech Nitrogen reports growth in earnings, sales for fourth quarter

Rentech Nitrogen (Los Angeles) reports strong earnings and sales for fourth-quarter 2012, partially due to higher demand leading to increased urea and ammonia production from an early fall fertilizer application season, the company says. Net income was $17.6 million, up 68% year-on-year (YOY), and includes $2.1-million loss on debt extinguishment. However, earnings per share of 44 cts/share were lower than analyst estimates of 55 cts/share, according to Thomson Reuters (New York). The company says sales increased 47%, to $92.4 million, because of the contribution...

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