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Innophos Holdings, Inc. Reports Fourth Quarter And Full Year 2012 Results
Date:2/14/2013

sales for 2012 were $862 million, a 6% increase over 2011. 
  • Specialty Phosphates 2012 sales of $758 million increased 6% compared to 2011 primarily on higher prices. US/Canada organic volumes were flat, and acquisitions added 3% growth which exceeded a decline in Mexico volumes.
  • GTSP & Other sales at $105 million for 2012 were $6 million above the year ago level on lower market prices, but higher volumes.
  • Diluted EPS for 2012 was $3.30 compared to $3.83 for 2011.  The fourth quarter adjustment items noted above, together with earlier adjustments noted in prior quarters, amounted to $0.22 per share for full year 2012 and $0.02 per share for full year 2011.  Giving effect to these adjustments, 2012 diluted EPS would have been $3.08 compared to $3.81 for 2011. 
  • Randy Gress, CEO of Innophos, commented on the results, "I am satisfied with the progress we made throughout 2012 in delivering on our strategic objectives and positioning the business for future growth. However, our results in 2012 have also reflected the challenging market conditions we have experienced.  The environment was particularly reflected in the fourth quarter, as the timing of the holiday season, combined with customer efforts to reduce inventories in an uncertain demand environment, resulted in a significantly more pronounced fourth quarter seasonal slowdown in our US and Canada Specialty Phosphates business.  That said, volumes have since recovered strongly in January 2013, which gives us confidence that the effect was limited to the fourth quarter." 

    Mr. Gress continued, "Our strategic accomplishments in 2012 included two acquisitions in the attractive high growth nutritional ingredients space, as well as a significant step forward in the resources and capabilities dedicated to developing our business in higher growth geographies such as the Asia Pacific region.  Our latest acquisition, Triarc
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    SOURCE Innophos Holdings, Inc.
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