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TheStreet Open House

SQM Reports Earnings For The First Half Of 2012

Stocks in this article: SQM

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.

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