Innophos Holdings, Inc. (IPHS) reported net income for the first quarter of $12.4 million or $0.55 per share, compared to $27.6 million or $1.22 per share for the year-ago quarter.
Excluding items, adjusted earnings per share for the first quarter were $0.60, compared to $0.90 in the prior year quarter.
Net sales for the first quarter fell to $214.44 million from $228.25 million a year ago mainly on lower GTSP & Other sales.
Analysts polled by Thomson Reuters expected the company to earn $0.79 per share on revenue of $229.70 million for the first quarter. Analysts' estimates typically exclude special items.
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