Winter’s severe weather gave fourth-quarter sales a boost at Compass Minerals International Inc., the Overland Park company that sells salt and de-icing products.
By MARK DAVIS
The Kansas City Star
Earnings in the last three months of 2013 were $58.4 million, or $1.73 a share. A year ago, the company earned $30.1 million, or 90 cents a share, in the fourth quarter.
Compass’ announcement said the recent quarter benefited from $2.9 million in favorable “special items,” while the same quarter a year ago had included a $4.2 million setback from unfavorable special items. Ignoring these, earnings totaled $55.5 million compared with $34.3 million, the company said.
Revenue in the quarter was $387.4 million, a 45 percent jump, which Compass attributed to “severe winter weather” that ballooned sales in its salt business segment more than 50 percent. Its specialty fertilizer businesses’ sales rose 8 percent.
For all of 2013, earnings totaled $130.8 million on $1.13 billion in sales, compared with $88.9 million on $942 million in sales in 2012.
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