Santiago-Sociedad Quimica y Minera de Chile S.A. (SQM) reported its seventh straight year of revenue and net income growth in 2007. The two were up 13.9 percent and 27.4 percent over 2006, respectively. Net income was $180.0 million ($6.84 per ADR) on sales of $1.19 billion, up from 2006’s $141.3 million ($5.37 per ADR) and $1.04 billion, respectively. Specialty Plant Nutrition (SPN) revenues for the year were up 15 percent to $580.8 million from 2006’s $503.1 million. SPN prices were up 9 percent. SQM had increased water soluble potassium nitrate volumes in Europe, especially Spain, as well as increased potassium nitrate volumes to China, and increased potassium and sodium nitrate sales to Latin America, particularly Brazil. SQM-wide, fourth-quarter earnings were up 50.4 percent on a 14.7 percent increase in sales. Fourth-quarter net income was $44.6 million ($1.69 per ADR) on sales of $306.2 million versus the year-ago $29.7 million ($1.13 per ADR) and $267.0 million, respectively. Fourth-quarter SPN revenues were up 15.1 percent to $143.7 million, up from the year-ago $124.8 million.
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