The Mosaic Co. cited lower phosphate prices and volumes for a drop in earnings and revenues for the first fiscal quarter ending Aug. 31, 2012 versus the year-ago quarter. Net earnings were off 18 percent to $429 million ($1.01 per diluted share) on sales of $2.5 billion, down from the year-ago $526 million ($1.17 per share) on sales of $3.1 billion. Regardless, the company reiterated that the long-term outlook for crop nutrition is outstanding.
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