13 February 2013 23:41 [Source: ICIS news]
HOUSTON (ICIS)--Intrepid Potash posted a 42% year-on-year loss in net income for the fourth quarter of 2012 on cost of sales, the US fertilizer producer said on Wednesday.
Net income for the quarter ended 31 December was $14.5m (€10.7m), a decrease from $24.9m in the same period a year earlier.
Revenues for the fourth quarter of 2012 totalled nearly $111,000, up from nearly $105,000 in the fourth quarter of 2011.
However, freight, warehousing and costs of goods in the fourth quarter of 2012 totalled almost $74,000 compared with $61,000 for that period in 2011.
Still, Intrepid Potash made $85.5m in capital investments in the fourth quarter and $253.0m for the whole year, stating the projects continue to progress within expectations.
Looking forward, the company said it will "continue investing in appropriate levels of capital to achieve its goal of producing incremental tons at meaningfully lower cash cost".
($1 = €0.74)
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