Mosaic 2Q 2013 Revenue Down, Profit Up

Mosaic (NYSE: MOS  ) announced its fiscal 2Q 2013 results in an official release. The agricultural chemicals firm's net sales totaled $2.5 billion, and its bottom line was $629 million ($1.47 per diluted share), compared to $3.0 billion and $624 million ($1.40 EPS), respectively, in the same period the previous year.

This most recent quarter's net profit, however, was affected by a sizable tax benefit of $179 million ($0.42 per share). Operating earnings came in at just under $560 million, against 2Q 2012's $797 million.

The company attributed the operating shortfalls to prolonged contract negotiations in the key markets of India and China. On the other hand, it sounded a positive note regarding the domestic market, on which it says it's seeing strong demand "underpinned by excellent application seasons".

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