The following was publicly reported by Mosaic on July 22nd, 2009

Phosphates

Net sales in the Phosphates segment were $884.5 million for the fourth quarter, compared with net sales of $2.0 billion a year ago. Phosphates' fourth quarter gross margin was $32.9 million, or 4% of net sales, compared with gross margin of $851.6 million, or 42% of net sales, for the same period a year ago. The Phosphates segment had operating earnings of $2.3 million compared with operating earnings of $797.4 million in the same period last year. The primary factors impacting results were lower selling prices and a 21% decline in sales volumes, partially offset by lower raw material costs.

The average fourth quarter DAP selling price, FOB plant, was $345 per tonne, which was a $409 per tonne decrease compared with a year ago and a $68 per tonne decrease compared with the third quarter of fiscal 2009.

The Phosphates segment's total sales volume was 1.9 million tonnes for the fourth quarter compared to 2.4 million tonnes a year ago. Sales volumes picked up in the fourth quarter compared to third quarter levels as customers started restocking depleted inventories.