- Net earnings totaled $9.4 million, or $0.28 per diluted share, compared to $34.6 million, or $1.03 per diluted share, in the third quarter of 2011.
- These results included losses from a tornado that struck the company’s salt operations in Goderich, ON, in August 2011. When excluding the estimated effects of the tornado, net earnings were $10.3 million, or $0.31 per diluted share.
- Sales were $181.0 million, down from $229.1 million in the third quarter of 2011. A 7 percent increase in specialty fertilizer sales was more than offset by a 30 percent decline in salt segment sales resulting from significantly lower pre-season demand for deicing products following the historically mild 2011-2012 winter season.
- Operating income was $14.1 million, a decline of $34.5 million from prior-year results, principally driven by the lower salt sales volumes and short-term increases on per-unit production costs.
- Cash flow from operations for the nine months ended September 30, 2012, was $132.2 million compared to $200.8 million in the year-ago period.
|Compass Minerals Financial Results (in millions, except for earnings per share)|
|Three months ended September 30,||Nine months ended September 30,|
|Sales less shipping and handling costs(product sales)||140.1||173.0||497.5||584.7|
|Net earnings, excluding special items*||10.3||34.6||70.1||105.1|
|Diluted earnings per share||0.28||1.03||1.75||3.14|
|Diluted earnings per share, excluding special items*||0.31||1.03||2.09||3.14|