Sugar Land, Texas-CVR Energy Inc. reported that its Coffeyville, Kan., nitrogen fertilizers operations reported second-quarter 2009 operating income of $16.5 million on net sales of $55.3 million for the second quarter ending June 30, compared to the year-ago $23.1 million and $58.8 million, respectively. CVR sold 27,400 st of ammonia and 161,800 st of UAN at average prices of $351/st and $249/st, respectively, versus the year-ago 19,100 ($528/st) and 138,600 st ($303/st). First-half nitrogen operating income was $45.8 million on net sales of $123.1 million, compared to $49.2 million on net sales of $121.4 million. During the first half, CVR sold 75,400 st of ammonia ($365/st) and 304,700 st ($280/st) of UAN, versus the year-ago 43,300 st ($509/st) and 296,600 st ($281/st). Strong results from CVR’s refinery business helped the company post an overall increase in net income for the second quarter, to $42.7 million ($.49 per diluted share) on sales of $793.3 million, versus the year-ago $31 million ($.36 per share) and $1.51 billion. Six-month net income was $73.3 million ($.85 per share) on sales of $1.4 billion, up from the year-ago $53.2 million ($.62 per share) and $2.73 billion.
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