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Article: CF Industries Holdings, Inc. Reports Fourth Quarter Net Loss of $12.8 Million; High Natural Gas Prices Drove Higher Production Costs and Reduced Demand for Fertilizer Products; Reduced Natural Gas Prices May Benefit Company in 2006.
- Article from:
- Business Wire
- Article date:
- February 23, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONG GROVE, Ill. -- Fourth Quarter and 2005 Highlights
--Fourth quarter net sales decreased 3 percent to $463.0 million, compared to 2004 fourth quarter. Volume declined 16 percent versus year ago quarter.
--Quarter's gross margin declined significantly from 2004's fourth quarter, reflecting hurricane-related high natural gas costs and losses on derivatives associated with discontinuance of hedge accounting.
--Calendar year 2005 net sales increased 16 percent to $1.9 billion.
--Full year net loss of $39.0 million due primarily to IPO-related items. Adjusted net earnings for 2005 rose nearly 15 percent to $77.5 million.
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