Innophos Holdings Q2 Profit Rises - Quick Facts

(RTTNews) - Innophos Holdings, Inc. (IPHS) reported second-quarter net income of $20.63 million or $0.93 per share, compared to $11.57 million or $0.52 per share, prior year.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.90 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $219.54 million from $213.18 million, last year. Analysts expected revenue of $232.75 million for the quarter. Specialty Phosphates volume was down 1% in the second quarter 2014 compared to the prior year primarily due to softening market dynamics for core markets, combined with adverse STPP order patterns in Mexico, lower growth than expected for the nutrition business and continued dampening on INNOVALT sales for asphalt markets.

The company said, as a result of the noted challenges in the US markets, which negatively affected first-half 2014 growth rates by 100 basis points, its expectation for Specialty Phosphates volume growth is now at the low end of the full year 2014 target range of 3-5%.