OVERLAND PARK, Kan., Apr 13, 2011 (BUSINESS WIRE) -- Compass Minerals (NYSE: CMP) has published its first-quarter 2011 highway deicing sales volume and regional weather data on its website at www.compassminerals.com/marketdata.
The data show that there were 153 snow events in 11 representative cities in the company's primary North American highway deicing service area compared to 108 events in the same cities in the first quarter of 2010.
Compass Minerals' highway deicing sales volume, which includes all highway maintenance products sold in the U.S., Canada and the U.K., as well as rock salt sold to the chemical industry, totaled approximately 4,278,000 tons in the three months ended March 2011 compared to sales of 3,950,000 tons in the first quarter of 2010. The company's ability to serve areas with exceptional demand was somewhat limited in the 2010-2011 winter season by inventory constraints.
In addition, a variety of factors may have reduced the correlation between the number of snow events reported and Compass Minerals' actual highway deicing results, including the relative significance to the company of the cities represented, differences in weather between the official reporting station and the company's customers, and an approximate 3 percent market-wide reduction in contract volumes season-over-season, primarily driven by high customer inventories following a mild 2009-2010 winter season.
The weather data should be used only as an indicator of the year-to-year variations in winter weather conditions in these regions. The weather data is drawn from the U.S. National Weather Service and Environment Canada without weighting or other adjustments.
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 and water conditioning products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications. Compass Minerals also provides records management services to businesses throughout the U.K.
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.
SOURCE: Compass Minerals
Compass Minerals
Rodney L. Underdown, 913-344-9395
Chief Financial Officer
or
Peggy Landon, 913-344-9315
Director of Investor Relations and
Corporate Communications