Los Angeles — Rentech Nitrogen Partners LP was impacted in the late spring season, with first-quarter net income falling to $15 million ($0.38 per common unit) on sales of $59.6 million, compared to the year-ago $19.4 million ($0.51 per unit) on sales of $38.5 million. The company continues to expect a full-year cash distribution of $2.60/unit. Sales were up due to the acquisition of the Pasadena, Texas, facility. Pasadena added $25 million in revenues and $1.9 million in operating income. The East Dubuque, Ill., nitrogen facility had $17.3 million in operating income on sales of $34.5 million, compared to the year-ago $20.8 million and $38.5 million, respectively. UAN was the big mover during the quarter, though prices were off − 61,000 st (average delivered price $301/st) versus 34,000 st ($327/st), while ammonia prices were up and volumes were off − 11,000 st ($739/st) versus 30,000 st ($673/st). At Pasadena, ammonium sulfate volumes sold were 54,000 st ($320/st), sulfuric acid at 41,000 st ($99/st), and ammonium thiosulfate at 15,000 st ($198/st).
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