SASKATOON PRNewswire via COMTEX – Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced that its 2001 year-end results would be lower than previously expected. The Company now believes that fully diluted earnings will be in the range of $2.30 per share, 8 percent lower than its previous guidance of $2.50 per share. The actual number will be affected by the Canadian exchange rate at December 31, 2001.
SASKATOON, SK PRNewswire via COMTEX Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced it is locking out Communications, Energy and Paperworkers Union, Local 922 (the Union) employees at the Lanigan potash mine. The lockout became effective at 6:00 p.m. December 2, 2001.
SASKATOON, SK PRNewswire via COMTEX Potash Corporation of Saskatchewan Inc. announced today that its Board of Directors has declared a quarterly dividend of US $0.25 per share payable February 15, 2002 to shareholders of record January 25, 2002.
Population growth and an increasing global appetite for meat will fuel a steady increase in demand for feed phosphates for the foreseeable future. Rick Brasnett, Manager Market Research for PotashCorp, told the Fertilizer Institute's 2003 Fertilizer Outlook Conference at Washington, DC in November that dical/monocal consumption is expected to grow at about 1.7 percent annually through 2006 while DFP is expected to grow at a slightly higher rate of 2 percent annually. Growth is being driven by rising world population and incomes, but consumer preference and food health and safety issues are also factors. Brasnett said US broiler production and exports have been trending sharply upward because of health concerns over red meat fueled successive crises over mad cow disease and foot and mouth disease in Europe. For more information on the outlook for feed phosphates see the full speech.
SASKATOON, SK PRNewswire – Potash Corporation of Saskatchewan Inc. (PCS or PotashCorp) today announced that it has purchased, pursuant to a public auction approximately 48 million class A shares of Sociedad Quimica y Minera de Chile S.A. (SQM) for an aggregate purchase price of approximately 91.5 billion pesos (approximately US $129 million). This purchase represents approximately 34% of the issued and outstanding class A shares of SQM and approximately 18% of the total issued and outstanding equity shares (class A and class B) of SQM. PotashCorp considers that the transaction provides a meaningful interest in SQM and that the price paid represents full value and therefore does not currently anticipate acquiring additional class A shares at a higher price.
SASKATOON, SK PRNewswire – Potash Corporation of Saskatchewan Inc. (PotashCorp) today reported third-quarter net income of $11.1 million or $0.21 per share compared to $46.4 million or $0.89 per share in the same quarter of 2000, primarily due to lower nitrogen prices. On a year-to-date basis, net income per share was $2.25 compared to $3.38 last year. Despite this earnings drop of 34 percent, PotashCorp's cash flow(1) per share fell only 10 percent as the Company books significant non-cash charges in deferred income taxes and depreciation.
SASKATOON, Sk PRNewswire Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced that its third-quarter and year-end results would be lower than previously expected. The Company now believes fully- diluted earnings in third-quarter 2001 will be in the range of $0.20 per share, just over half its previous guidance of $0.35 per share; its new full year estimate is $2.50 per share reduced from a range of $3.00 to $3.25.
SASKATOON, SK PRNewswire Potash Corporation of Saskatchewan Inc. (PCS) announced today that its Board of Directors has declared a quarterly dividend of US $0.25 per share payable November 15, 2001 to shareholders of record October 25, 2001.
SASKATOON PRNewswire – Potash Corporation of Saskatchewan Inc. (PCS or PotashCorp) reported an 8 percent increase in second-quarter gross margin, $132.8 million compared to $122.4 million for the same quarter of 2000. Potash gross margin was down while phosphate was flat, but they were more than offset by higher nitrogen gross margin, principally due to higher prices. These better operating results were reduced by a $14.9 million decrease in other income and two non-cash items: an $11.2 million negative adjustment in foreign exchange translation loss and higher year-over-year deferred income taxes. As a result, second-quarter net income was $43.1 million, or $0.83 per share on a fully-diluted basis, compared to $60.1 million or $1.14 per share for second-quarter 2000.
SASKATOON PRNewswire – Potash Corporation of Saskatchewan Inc. (PCS or PotashCorp) today announced an 83,000 metric tonne expansion of its purified phosphoric acid plant at Aurora, North Carolina. The expansion, representing a nearly 50 percent increase in the plant's existing capacity, will take it to 251,000 tonnes. The Company will begin detailed engineering immediately with construction starting in mid-October, 2001. The $70 million project will be fully operational by first-quarter 2003.