Toronto-Sherritt International Corp. reported that fertilizer operating losses decreased in the first quarter ending March 31, 2008, to C$200,000 versus the year-ago $900,000. Revenues were $8.5 million, up from the year-ago $5.7 million. Fertilizer sales volumes moved up to 22,379 mt from the year-ago 17,135 mt. Sherritt said more deliveries were taken in advance of the spring planting season as customers anticipated restricted supplies from increased crop prices. Sherritt also reported that its Metals segment was seeing higher sulfur and sulfuric acid prices. Sulfur costs were put at US$261.47/mt versus the year-ago $101.95/mt, while acid was US$209.65/mt versus $99.06/mt. Sherritt-wide, net earnings were C$89.0 million ($.38 per diluted share) on sales of $314.2 million, versus the year-ago $89.1 million ($.52 per share) and $310.1 million, respectively.
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