Potash drilled from the earth is carried up to the surface on a conveyor belt.DAVID STOBBE
Potash Corporation of Saskatchewan Inc. says its fourth-quarter profit was down 69 per cent compared with the year-earlier results.
The Saskatoon-based fertilizer producer said its profit fell to $243.6-million in last year's fourth quarter, down from $788-million in the 2008 fourth quarter.
On a per-share basis, the profit fell to 80 cents per diluted share, down from $2.56.
Sales revenue also fell, to about $1.1-billion in the fourth quarter of 2009 from nearly $1.9-billion in the comparable period of 2008.
For the full year, Potash Corp. earned $987.8-million or $3.25 per share in 2009 - the third-highest profit in company history but less than one-third the record set in 2008.
In 2008, prices for potash and many other commodities hit record highs, helping Potash Corp. to a profit of $3.5-billion or $11.01 share for the full year.