Compass Minerals reports quarterly loss

Compass Minerals on Monday reported a second-quarter loss of about $700,000, citing costs related to early redemption of debt and an expected increase in its 2014 tax rate.

The Overland Park-based company, which is one of the nation’s largest suppliers of highway de-icing salt, said sales increased to $186.6 million from $173.8 million in the second quarter last year. Sales were boosted by demand for plant nutrition products, which offset a 7 percent seasonal dip in salt sales.

In last year’s second quarter, Compass earned $10.6 million. The company said that without the debt redemption costs, its net earnings were $4.4 million.

For the second half of this year, Compass said it expects increased earnings thanks to “attractive market conditions” for its salt and plant nutrition businesses.

The Star