Toronto-Sherritt International Corp. reported increased fertilizer revenues for the year ending Dec. 31, 2010, to C$65.8 million with operating costs of $54.1 million, compared to the year-ago $57 million and $53.4 million, respectively. Fertilizer sales volumes were up to 196,090 mt at an average price of $296/mt, versus the prior year’s 157,662 mt and $323/mt. Sherritt cited increased production and demand, saying higher metals production allowed more fertilizer to be produced, and noted that there was an extended acid plant maintenance outage in 2009 that restricted fertilizer production. Fourth-quarter sales were 58,332 mt ($301/mt), versus the year-ago 35,702 mt ($275/mt). Fourth-quarter revenues, unlike annual, were combined with other products, and were $22.3 million versus the year-ago $13.5 million. Company-wide, Sherritt reported fourth-quarter net income of $81 million on sales of $508 million, up from the year-ago $48.3 million on sales of $379.2 million. Full-year net income was $214 million on sales of $1.77 billion, up from $85.7 million on sales of $1.47 billion.
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