Terra Industries

(TRA)

reported an earnings increase of almost 58% in the fourth quarter as revenue rose because of higher nitrogen products selling prices.

Fourth-quarter earnings were $164.7 million, or $1.65 a share, an increase from $69.7 million, or 66 cents a share, a year earlier. Revenue rose to $683.5 million from $569 million a year earlier.

Analysts surveyed by Thomson Reuters forecast fourth-quarter earnings of 92 cents a share.

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Fertilizer company Terra last month said its board rejected an unsolicited $2.1 billion takeover offer from rival

CF Industries

(CF) - Get CF Industries Holdings, Inc. Report

Holdings.

Terra said its board decided that the bid was not in the best interest of the company or its shareholders.