Overland Park, Kan.-Compass Minerals reported operating earnings of $8 million on sales (96,000 st) of $29.2 million in its special potash business for the fourth quarter ending Dec. 31, 2006. This compares to the year-ago $9.7 million (103,000 st) and $28.5 million. The company says sales growth was spurred by a 9 percent year-over-year price improvement, partially offset by lower volumes in the Southeastern U.S. Operating earnings were impacted by a significant increase in the cost of sourced potash, which is used as a raw material to supplement the company’s own product. For the year, operating earnings were up slightly at $30.5 million (377,000 st) on sales of $110.3 million, versus 2005’s $30.2 million (396,000 st) and $102.7 million, respectively. While sales grew 7 percent for the year with a 13 percent improvement in prices, rains in the first half reduced applications in California. This, along with lower fourth-quarter volumes, brought the annual decline in volumes to 5 percent. Compass-wide, warm weather had a major impact on salt sales for deicing. Company-wide net earnings from continuing operations were $26.2 million on sales of $211.1 million versus the year-ago $9.3 million and $283.1 million. For 2006, net income was $55.0 million on sales of $660.7 million versus 2005’s $26.8 million and $742.3 million, respectively.
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