Santiago-SQM’s specialty plant nutrition revenues were up 26.6 percent for the third quarter ending Sept. 30, 2007, to US$162.2 million from the year-ago $128.1 million. SQM attributed the increase to normal market growth, better pricing conditions, additional sales of potassium nitrate to China, and additional sales of blended fertilizers to Chile. Nine-month sales in the segment were $437.3 million, up from $378.3 million. “In the near future, we expect the strong market situation of potash to boost the prices of our specialty plant nutrients going forward, so we expect a better scenario in 2008 for our specialty plant nutrition division,” said SQM CEO Patricio Contesse. Company-wide third-quarter net income was $41.5 million ($1.65 per ADR) on sales of $322.5 million, versus the year-ago $36.4 million ($1.38 per ADR) and $271.1 million, respectively. Nine-month net income was $135.4 million ($5.15 per ADR) on sales of $881.3 million, versus the year-ago $111.6 million ($4.24 per ADR) and $775.8 million, respectively.
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