Following a dip by more than half on lower prices and decrease in margins, CF Industries Holdings Inc. reported poor market conditions as fourth-quarter profit and revenue declined to 73%. Net income was down $51.4 million, or $1.04 per share, from $190.1 million, or $3.59 per share, the previous year. On average earnings of $1.15 per share were expected by the analysts.

But, due to plantation of more acres of corns, for the spring planting season, CF claimed that it expected strong market conditions. In pre-market trading, shares of CF were increased 1.6% at $102.10.

Chairman and Chief Executive Stephen R. Wilson said, "The quarter was marked by a late harvest and a poor fall ammonia application season. But by the end of the quarter, stronger buying interest had returned and prices had risen, reflecting the reality that the U. S. market needs to attract enough nitrogen fertilizer from world markets to meet strong expected demand in the spring of 2010".

Revenue dropped 53% to $506.7 million, and gross margin to 24.9% from 33.6%. Sales in the company's nitrogen segment went down 50% and Phosphate volume climbed 36% on strong exports.