Toronto-Fertilizer sales volumes improved for Sherritt International Corp. for the second quarter ending June 30, 2007, to 110,338 mt from the year-ago 91,386 mt. Sherritt cited tight supplies due to increased demand from ethanol-based crops. Second-quarter operating earnings were down, to C$1.7 million on revenues of $34.4 million, versus the year-ago $2.9 million and $29.0 million, respectively. Earnings were off due to increased energy costs, selling costs, and higher amortization expense. Six-month volumes were up, at 127,473 mt from 100,216 mt, while operating earnings were down, to $800,000 on revenues of $40.1 million, versus the year-ago $3.0 million and $32.7 million, respectively. Sherritt-wide, second-quarter net earnings more than doubled, to $132.4 million ($.72 per diluted share) on sales of $405.4 million, up from the year-ago $57.2 million ($.33 per share) and $291.5 million, respectively. Six-month net earnings were $221.5 million ($1.24 per share) on sales of $715.5 million, versus the year-ago $92.9 million ($.53 per share) and $539.0 million, respectively.
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