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.
For the complete version of this press release, please visit our website: www.sqm.comSOURCE SQM
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts