Mosaic Q4 net income falls 22% on lower phosphate prices

17 July 2012 12:40  [Source: ICIS news]

HOUSTON (ICIS)--Mosaic’s fiscal 2012 fourth-quarter net income fell 22% year on year to $507.3m (€416.0m), primarily because of lower phosphate pricing, the US-based fertilizer firm said on Tuesday.

Mosaic’s sales for the three months ended 31 May were almost unchanged at $2.82bn, compared with $2.86bn reported in the same period last year.

Gross margins for the quarter were down 16% year on year to $833.8m.

Going forward, Mosaic expects a good fiscal 2013, CEO Jim Prokopanko said.

“Despite the current drought in the US corn belt, farm economics remain compelling, and farmers around the world continue to be incented to use our products to increase their crop yields,” Prokopanko said.

($1 = €0.82)

By: Stefan Baumgarten
+1 713 525 2653

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