Overland Park, Kan. — Compass Minerals reported a drop in operating earnings for its Specialty Fertilizer business, to $15.4 million on sales of $54 million, down from the year-ago $20.7 million on sales of $58.5 million. Sales volumes dropped to 88,000 st from the year-ago 96,000 st, though prices nudged up – average sales prices were $615/st versus the year-ago $613/st. The company attributed the volume drop mainly to sulfate of potash supply constraints, and believes those will continue in 2013, though the market itself is good. Company-wide, Compass saw an increase in net income, to $46.4 million ($1.38 per diluted share) on sales of $383.7 million, up from the year-ago $39.9 million ($1.19 per share) and $315.3 million, respectively. This was attributed to a rebound in the company’s salt business, which saw a surge in sales due to late winter snows. Year-ago salt sales were weak due to a particularly warm winter.
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