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AGRICULTURAL MINERALS ANNOUNCES PRELIMINARY THIRD QUARTER RESULTS

 TULSA, Okla., Oct. 8 /PRNewswire/ -- Agricultural Minerals Co. L.P. (NYSE: AMC) ("AMCLP") announced preliminary results for its quarter ended Sept. 30, 1993. AMCLP's preliminary internal financial information indicates that for the third quarter of 1993 sales revenues were approximately $46 million (versus $55 million for last year's third quarter) on volume of approximately 490 thousand tons (versus 680 thousand tons), earnings before interest, taxes, depreciation and amortization ("EBITDA") was approximately $9 million (versus $15 million), and net income was approximately $4.4 million (versus $10 million). The third quarter typically produces lower results for AMCLP than either of the first two quarters. For the nine months ended Sept. 30, 1993 sales revenues were approximately $193 million (versus $197 million for the nine months ended Sept. 30, 1992) on volume of approximately 2.0 million tons (versus 2.3 million tons); EBITDA was approximately $53 million (versus $63 million); and net income was approximately $39 million (versus $48 million).
 The primary factors affecting third quarter results were the decreased volumes mentioned above and scheduled maintenance shutdowns at AMCLP's plants at Blytheville, Ark. and Verdigris, Okla. in the third quarter of 1993. There were no such shutdowns during the third quarter of 1992. Additionally, results were adversely affected by increased natural gas costs and a decline in urea pricing due to increased imports.
 AMCLP expects to issue its final results for the third quarter of 1993 later this month. The company's preliminary operating results are generally consistent with its expectations and will not affect distributions on the Senior Preference Units.
 -0- 10/8/93
 /CONTACT: Craig Cosgrove of Agricultural Minerals, 918-660-0050/


CO: Agricultural Minerals Co. L.P. ST: Oklahoma IN: MNG SU: ERP

SG -- SF005 -- 0068 10/08/93 10:16 EDT
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Publication:PR Newswire
Date:Oct 8, 1993
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