Innophos Holdings Q2 Profit Decreases - Quick Facts

(RTTNews) - Innophos Holdings Inc. (IPHS) reported that its second-quarter net income decreased to $11.57 million or $0.52 per share, from $16.50 million or $0.73 per share, last year.

The company noted that its current year period included expenses of $0.13 per share due to increased maintenance costs and lower efficiencies resulting from Mexico production issues, $0.07 per share for a revision of estimates for phosphate rock inventories and $0.07 per share of translation expense due to a weakened Mexican peso against the US dollar. Giving effect to these items, second quarter 2013 earnigns per share would have been $0.79.

On average, five analysts polled by Thomson Reuters expected the company to report profit of $0.78 per share for the quarter. Analysts' estimates typically exclude special items. Net sales decreased to $213.18 million, from $214.18 million last year. Analysts expected revenue of $227.35 million for the quarter.