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1ST QTR: COMPASS MINERALS SALES UP 10%, NET EARNINGS UP 8%.
Source: Compass Minerals news release

To view the complete report, click here.

Compass Minerals (NYSE: CMP) reports the following results of its first-quarter operations:

"Severe winter weather in North America drove salt sales volumes to their highest quarterly level since 2008, and our specialty fertilizer segment generated record first-quarter revenue from robust early spring demand for our sulfate of potash products," said Fran Malecha, Compass Minerals president and CEO. "These improved market conditions have created positive momentum for both businesses for the remainder of 2014."

SPECIALTY FERTILIZER SEGMENT

Specialty fertilizer sales increased $12.1 million from the first quarter of 2013 to $66.1 million. Sales volumes surged 22 percent above prior year results, while the average selling price for specialty plant nutrition products remained consistent with prior year levels at $616 per ton.

Specialty fertilizer segment EBITDA rose 5 percent to $22.3 million as higher per-unit costs limited the benefit of increased sales volumes. To meet increased demand, the company continued to purchase potassium chloride feedstock to augment production at its Ogden, Utah, facility, which also increased per-unit costs.


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