Pricing pressure pulls Intrepid Potash into loss

摘要

Intrepid Potash, the only US producer of potash, supplying approximately 9% of the country’s annual consumption, on Monday reported a fourth-quarter 2015 loss of $518.3 million, or $6.85/share, compared with net income of $5.8 million, or 8 cts/share, for the 2014 fourth quarter. Excluding items that impact comparability from period to period, including an asset impairment charge related to conventional assets in Carlsbad, CA; and the higher valuation allowance related to deferred tax assets, Intrepid's adjusted net loss is $20.1 million, or 26 cts/share, compared with adjusted net income of $5.1 million, or 7 cts/share, in the 2014 fourth quarter. Sales in fourth-quarter 2015 were $42.8 million compared with $98.3 million in the year-earlier quarter.