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TERRA INDUSTRIES REPORTS MAY REVENUES UP 7 PERCENT; QUARTER-TO-DATE REVENUES UP 8 PERCENT

 TERRA INDUSTRIES REPORTS MAY REVENUES UP 7 PERCENT;
 QUARTER-TO-DATE REVENUES UP 8 PERCENT
 SIOUX CITY, Iowa, June 9 /PRNewswire/ -- Terra Industries Inc. (NYSE: TRA) today announced May revenues increased 7 percent to $251.4 million in 1992 from $235.6 million in May 1991. For April and May 1992, Terra revenues totaled $439.7 million, an increase of 8 percent from $406.0 million in the 1991 period.
 Revenues from Terra's distribution operations increased 9 percent to $403.2 million in the first two months of the 1992 second quarter from $368.5 million last year. A 13 percent gain in agricultural chemical, retail fertilizer and seed sales during April and May was primarily offset by reduced sales of purchased phosphate fertilizers to dealers.
 Manufactured fertilizer revenues for April and May increased to $34.8 million from $34.0 million in the same period last year. For the first five months of 1992, sales volumes of manufactured fertilizers, consisting of anhydrous ammonia, urea and nitrogen solutions, increased 12 percent above year-ago levels, partially offset by an average price decline of 4 percent.
 Burton M. Joyce, president and CEO, commented, "We remain optimistic about Terra's outlook this season. Farmers completed corn plantings in record time. Because of the compressed planting period, customers cut back on dry fertilizer applications. Post-emergent applications of both liquid fertilizers and chemicals are behind due to unusually cool May weather, which has delayed plant growth in much of our marketing area."
 Joyce continued, "As a reminder, revenue comparisons for any one month to the prior year period are not necessarily predictive of the full year's or even the full quarter's results. Differing weather patterns often shift applications from one month to another, and changes in product mix and our inventory cost position also affect profitability."
 Terra Industries Inc., which had 1991 revenues of over $1 billion, is a leading marketer and producer of fertilizer, crop protection products, seed and services for agriculture. It also produces construction materials and leases equipment.
 TERRA INDUSTRIES INC.
 May Revenues
 (In millions)
 Periods ended: Month Quarter-to-date
 1992 1991 1992 1991
 Distribution $232.2 $215.0 $403.2 $368.5
 Manufactured Fertilizer 18.2 18.3 34.8 34.0
 Other 1.0 2.3 1.7 3.5
 Total $251.4 $235.6 $439.7 $406.0
 -0- 6/9/92
 /CONTACT: Ellen Duerksen of Terra Industries, 712-277-5438/
 (TRA) CO: Terra Industries Inc. ST: Iowa IN: SU: ERN


TS -- NY009 -- 8226 06/09/92 09:01 EDT
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Publication:PR Newswire
Date:Jun 9, 1992
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