SQM Reports Earnings for the First Half of 2012
SANTIAGO, Chile, Aug. 28. 2012 /PRNewswire/ -- Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported today earnings for the first half of 2012 of US$342.2 million (US$1.30 per ADR), an increase of 40.5% with respect to the same period of 2011, when earnings totaled US$243.6 million (US$0.93 per ADR). Gross Margin reached US$531.9 million (43.9% of revenues), 33.9% higher than the US$397.2 million (38.5% of revenues) recorded during the first half of 2011. Revenues totaled US$1,213.0 million for the first six months, representing an increase of 17.6% over the US$1,031.7 million reported in the same period of 2011.
The Company also announced a year-over-year earnings increase of 45.4% for the second quarter of 2012, reporting quarterly net income of US$192.2 million (US$0.73 per ADR) compared to the 2011 figure of US$132.2 million (US$0.50 per ADR). Gross Margin for the second quarter reached US$295.7 million 41.1% higher than the US$209.6 million recorded for the same period of 2011. Revenues totaled US$683.3 million, an increase of approximately 23.9% with respect to the second quarter of 2011, when revenues amounted to US$551.7 million.
SQM is an integrated producer and distributor of specialty plant nutrient, iodine, lithium, potassium-related fertilizers and industrial chemicals. Its products are based on the development of high quality natural resources that allow the Company to be a leader in costs, supported by a specialized international network with sales in over 100 countries. SQM's development strategy aims to maintain and strengthen the Company's position in each of its businesses.
For the complete version of this press release, please visit our website: www.sqm.com
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