SANTIAGO, Chile, March 6, 2012 /PRNewswire/ -- Sociedad Quimica y Minera de Chile S.A. (SQM or the Company) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported today earnings for 2011 of US$545.8 million ( US$2.07 per ADR), an increase of 42.8% with respect to 2010, in which earnings totaled US$382.1 million ( US$1.45 per ADR). Gross margin reached US$854.8 million (39.8% of revenues), 36.5% higher than the US$626.0 million (34.2% of revenues) recorded during 2010. Revenues totaled US$2,145.3 million for 2011, representing an increase of 17.2% over the US$1,830.4 million reported in 2010.
The Company also reported quarterly net income of US$158.9 million ( US$0.60 per ADR) compared with the 2010 figure of US$105.8 million ( US$0.40 per ADR). Fourth quarter gross margin for 2011 reached US$215.9 million, 25.8% higher than the US$171.6 million recorded for the same period of 2010. Revenues for this quarter totaled US$538.9 million, an increase of approximately 6.6% with respect to the fourth quarter of 2010, when revenues amounted to US$505.7 million.
SQM is an integrated producer and distributor of specialty plant nutrients, 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.
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