The Mosaic Company (NYSE:MOS) is a single source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. Mosaic is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients.



The Mosaic Company reported first quarter fiscal year 2012 net earnings of $526 million, up 77 percent from $298 million in the prior year quarter. Earnings per diluted share were $1.17 in the quarter, up 75 percent from $0.67 per diluted share in the prior year period. Mosaic's net sales in the first quarter of fiscal 2012 were $3.1 billion, a 41 percent increase from $2.2 billion in the same period last year.

Mosaic's gross margin for the first quarter of fiscal 2012 was $848 million, or 28 percent of net sales, compared to $505 million, or 23 percent of net sales, a year ago. First quarter operating earnings were $730 million, an increase of 78 percent compared to $410 million a year ago. The increase in gross margin and operating earnings was driven primarily by higher selling prices and improved potash operating rates partially offset by increased phosphates raw material costs.

Cash flow provided by operating activities in the first quarter of fiscal 2012 was $554 million compared to $556 million in the prior year. Increases in cash flow due to net earnings were offset by the impact of changes in customer prepayments. Capital expenditures totaled $391 million in the quarter. Mosaic's total cash and cash equivalents, net of debt as of August 31, 2011, was $3.2 billion, up from $1.0 billion a year ago.

For more information about Mosaic, please visit www.mosaicco.com

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