Cranbury, N.J. — Specialty phosphate maker, Innophos Holdings Inc. reported fourth-quarter net income of $20.9 million ($.93 per diluted share) on sales of $209.2 million for the fourth quarter ending Dec. 31, 2011, compared to the year-ago $19.3 million ($.86 per share) on sales of $192.2 million. While fourth-quarter specialty phosphate volumes were up 2 percent, those for GTSP/Other (primarily fertilizer co-product) were off 54 percent, referencing the lull seen by much of that industry segment for the quarter. The company reached a settlement with its former parent Rhodia over various claims during the quarter, with net income after tax including a $500,000 after-tax benefit ($.02 per share), with a further $6.8 million ($.30 per share) to be recognized in the first quarter 2012. For the year, net income was $86.5 million ($3.83 per share) on sales of $810.5 million, versus 2010’s $45.1 million ($2.02 per share) on sales of $714.2 million. Specialty phosphate volumes for the year were up 2 percent, and those of GTSP/Other were off 5 percent, reflecting the fourth-quarter lull.
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