Compass Minerals Reports Highway Deicing Sales Volume and Snow-Event Data; Announces First-Quarter Conference Call
OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Compass Minerals (CMP) has published its first-quarter 2012 highway deicing sales volume and regional weather data on its website at www.compassminerals.com/marketdata.
In the three months ended March 2012, Compass Minerals sold approximately 3,104,000 tons of minerals through its highway deicing business unit compared with sales of 4,278,000 tons in the first quarter of 2011. Highway deicing sales include all highway maintenance products sold in the U.S., Canada and the U.K., as well as rock salt sold to the chemical industry.
According to the U.S. National Weather Service and Environment Canada, there were 73 snow events in 11 representative cities in the companys primary North American highway deicing service area compared to 153 events in the same cities in the first quarter of 2011 and a 10-year average of 115.5 events.
For the full winter season, which includes the calendar fourth quarter of 2011 and the calendar first quarter of 2012, there were 89 snow events in the 11 representative cities, compared to a 10-year average of 161.9 snow events in those same cities. The number of snow events reported may not directly correlate to Compass Minerals deicing results due to a variety of factors. The weather data is provided without adjustments to reflect the relative significance to the company of the cities represented. It should be used only as an indicator of the year-to-year variations in winter weather conditions in these regions.
While there were fewer snow events in our primary service area this season than weve seen in at least 15 years, Compass Minerals has decades of experience managing the effects of winter weather variability on our business. However, lower demand for highway deicing salt increases the proportion of lower-value sales to chemical producers, which can have an impact on our financial results, explained Angelo Brisimitzakis, Compass Minerals president and CEO.
Conference Call to Discuss First-Quarter Financial Results
The company will release its first-quarter 2012 financial results after the close of the markets on Thursday, April 26, and will discuss its performance on a conference call on Friday, April 27, at 9:00 a.m. ET.
To access the conference call, interested parties should visit the companys website at www.CompassMinerals.com or dial (877) 614-0009. Callers must provide the conference ID number 9016744. Outside of the U.S. and Canada, callers may dial (913) 643-4075. Replays of the call will be available on the companys website for two weeks. The replay can also be accessed by phone for seven days at (888) 203-1112, conference ID 9016744. Outside of the U.S. and Canada, callers may dial (719) 457-0820.
A summary of the companys first-quarter performance will also be available on the companys website by 9:00 a.m. ET on Friday, April 27, at www.CompassMinerals.com/Presentation.
About Compass Minerals
Based in the Kansas City metropolitan area, Compass Minerals is a leading producer of minerals, including salt, sulfate of potash specialty fertilizer and magnesium chloride. The company provides highway deicing salt to customers in North America and the United Kingdom and specialty fertilizer to growers worldwide. Compass Minerals also produces consumer deicing, water conditioning and pool products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications. The company also provides records management services to businesses throughout the U.K. For more information, visit www.compassminerals.com.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the company's current expectations and involve risks and uncertainties that could cause the company's actual results to differ materially. The differences could be caused by a number of factors including those factors identified in the "Risk Factors" sections of our Annual and Quarterly Reports on Forms 10-K and 10-Q. The company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments.
Rodney L. Underdown, 913-344-9395
Chief Financial Officer
Peggy Landon, 913-344-9315
Director of Investor Relations and Corporate Communications
Source: Compass MineralsCopyright Business Wire 2012