Innophos soars 25% to 52-week high on Q2 earnings

Innophos Holdings Inc. (Nasdaq:IPHS) has skyrocketed 25% to a 52-week high on a strong second quarter performance. For the 2008 second quarter, net sales were $264 million, up from $151.9 million a year ago. Net income was $59.3 million, or $2.74 per share, compared with a net loss of $5.2 million, or $0.25 per share loss, for the same period a year ago. Wall Street was expecting earnings per share of $0.73 on revenues of $211.9 million. Innophos is a Cranbury, N.J.-based producer of specialty phosphates.

“We are also anticipating and rapidly responding to the dynamic rate of change in our markets,” said CEO Randy Gress, in a statement. “We are successfully increasing prices while striving to provide value to our customers through a high level of customer service, reliable product supply and quality, and to continuously improve the efficiency and the strength of our supply chain.”

At 2:26 p.m. ET, shares are at $36.82, up $7.45 from Thursday’s close. Trading volume is at more than 2.2 million shares, well above the average of about 439,000.

For detailed price information and recent news stories about Innophos Holdings Inc., click IPHS.

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