Toronto-Sherritt International Corp. reported increased fertilizer volumes for the third quarter and nine months ending Sept. 30, 2010. Third-quarter volumes were 26,001 mt, up from the year-ago 21,522 mt, while nine-month volumes were 137,758 mt, up from the year-ago 121,960 mt. Sherritt said sales were lower in 2009 due to poor spring weather and the extended acid plant maintenance outage at its Fort Saskatchewan plant. Third-quarter fertilizer costs were C$7.9 million and revenues were $8 million, while year-ago costs were $7.3 million and revenues $8.1 million. Nine-month costs were $40.7 million on revenues of $44.5 million, compared to the year-ago costs of $41.5 million on revenues of $45.7 million. The company reported increased sulfur costs during the third quarter at $160.30/mt, up from the year-ago $115.65/mt, while sulfuric acid costs were down, at $133.28/mt from $142.33/mt. Nine-month sulfur costs were $139.95/mt, down from the year-ago $151.90/mt, while sulfuric acid prices were also down, at $132.76/mt from $153.21/mt. In other fertilizer-related news, the company reported potash royalties of $8 million for the first nine months, with expectations of $11 million for the year. Company-wide, Sherritt reported third-quarter net income of $57.6 million ($.19 per diluted share) on sales of $440.5 million, up from the year-ago $55.9 million ($.19 per share) and $389.0 million. Nine-month net income was $133.0 million ($.45 per share) on sales of $1.26 billion, up from the year-ago $37.4 million ($.13 per share) and $1.09 billion.
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