Deerfield, Ill.-Terra Nitrogen Co. LP (TNCLP) reported net earnings of $66.7 million ($2.22 per common unit) on sales of $166.9 million, versus the year-ago $60.8 million ($2.05 per unit) on sales of $142.8 million. The company sold 101,000 st of ammonia during the quarter at an average price of $339/st, versus the year-ago 82,000 st and $444/st. It also sold 544,000 st of UAN at an average price of $210/st, versus the year-ago 412,000 st and $226/st. Six-month net earnings were $100.6 million ($4.00 per unit) on sales of $285.7 million, versus the year-ago $104.1 million ($3.54 per unit) on sales of $308.1 million. Six-month ammonia sales were 153,000 st ($329/st) versus the year-ago 187,000 st ($440/st), while UAN sales were 1.01 million st ($199/st), up from the year-ago 778,000 st ($255/st). On July 28, TNCLP announced a cash distribution for the quarter ending June 30, 2010, of $2.36 per common limited partnership unit, payable Aug. 25, 2010, to holders of record as of Aug. 10, 2010.
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