Sioux City-Terra Nitrogen Co. LP reported a 232 percent increase in net income, to $45.6 million ($2.42 per limited partnership unit) on sales of $133.1 million for the third quarter ending Sept. 30, 2007, versus the year-ago $13.7 million ($.73 per unit) and $92.0 million, respectively. Ammonia sales volumes increased 16 percent, while UAN volumes were off 6 percent. Ammonia and UAN prices increased by 22 percent and 63 percent, respectively. Natural gas prices increased by 18 percent. Nine-month net income was $138 million ($7.31 per unit) on sales of $438.7 million, versus the year-ago $28.6 million ($1.52 per unit) and $306.6 million. Nine-month ammonia and UAN sales volumes were up 32 and 12 percent, respectively. UAN prices increased by 35 percent, while ammonia was up only slightly. Gas costs decreased 9 percent. TNCLP announced a cash distribution for the quarter ending Sept. 30 of $2.10 per lp unit, payable Nov. 26, 2007, to holders of record as of Nov. 8.
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