IMC FERTILIZER GROUP
POSTS RISE IN NETNORTHBROOK, Ill. - IMC Fertilizer Group Inc. reported net income for its third quarter ended March 31, 1989 $38.8 million or $1.48 a share, up from $21.2 million or 99 cents a share in the year-earlier quarter.
Sales for the third quarter were $322.6 million, up from $290.9 million for the comparable quarter.
It also marks the fifth consecutive quarter in which IMC Fertilizer has reported a net earnings increases over comparable periods since the company became a publicly traded, free-standing corporate entity in February, 1988.
"The March quarter marked a continuation of earlier strong domestic and international fertilizer demand, supported by outstanding performances in production, cost control and financial areas," according to Billie B. Turner, chairman and chief executive officer.
"On balance, the positive factors found in the fertilizer market today should continue to help the industry both short and longer term as worldwide demand is expected to increase nearly 18 percent over the next five years," he added.