Overland Park, Kan.-Compass Minerals specialty fertilizer operating earnings improved 22 percent, to $7.7 million from the year-ago $6.3 million, as price improvement offset rising input and logistics costs for the third quarter ending Sept. 30, 2007. The average sales price during the quarter was $341.04, up from the year-ago $287.57. SOP sales were up 13 percent, to $29.1 million versus the year-ago $25.7 million. Sales volumes were off 3 percent, to 86,000 st from 89,000 st due to year-over-year differences in the timing of international shipments. Nine-month volumes are at 308,000 st versus the year-ago 281,000 st. Compass currently expects 2007 SOP volumes to exceed 2006 volumes by 10 percent. Nine-month SOP operating earnings were $24.3 million on sales of $96.7 million, versus the year-ago $22.5 million and $81.1 million, respectively. The average sales price for the period was $314.46, up from $288.52. Company-wide third-quarter net income was $6.7 million ($.20 per diluted share) on sales of $139.5 million, versus the year-ago $2.3 million ($.07 per share) and $123.6 million, respectively. Nine-month net income was $29.6 million ($.90 per share) on sales of $531.2 million, versus the year-ago $28.8 million ($.88 per share) and $449.6 million, respectively.
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