Terra Nitrogen reports 3Q net income of $106.2 M

Sioux City-Terra Nitrogen Co. LP reported net income of $106.2 million ($3.41 per lp unit) on sales of $246.4 million for the third quarter ending Sept. 30, 2008, versus the year-ago $45.6 million ($2.42 per unit) and $133.0 million, respectively. TNCLP cited higher nitrogen selling prices and sales volumes, partially offset by higher natural gas costs. Nine-month net income was $317.9 million ($11.35 per unit) on sales of $677.5 million, up from the year-ago $138.0 million ($7.31 per unit) and $438.0 million, respectively.

2008 Volumes 2008 Price 2007 Volumes 2007 Price
NH3 68 664 57 367
UAN 536 342 432 233
NG 9.28 7.02
2008 Volumes 2008 Price 2007 Volumes 2007 Price
NH3 222 582 221 370
UAN 1,560 321 1,486 215
NG 8.00 6.70

* Sales volumes in thousand st; prices are average unit; natural gas is mmbtu.