Overland Park, Kan.-Compass Minerals reported a 122 percent increase in operating income from its specialty fertilizer business during the first quarter ending March 31, 2008. Operating earnings were $17.1 million on sales of $47.7 million, versus the year-ago $7.7 million and $32.1 million, respectively. Fertilizer volumes (sulfate of potash) were up 15 percent, to 123,000 st versus the year-ago 107,000 st, while prices were up 29 percent to an average of $388.47/st versus the year-ago $300.58/st. Company-wide, Compass net earnings were $49.1 million ($1.48 per diluted share) on sales of $380.0 million, up from the year-ago $26.1 million ($.80 per share) and $264.2 million, respectively. Compass also benefited from improved salt results during the quarter. Salt operating earnings were $69.5 million on sales of $329.2 million, up from the year-ago $48.1 million and $229.9 million, respectively.
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