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SQM's net income down more than 46% on lower sales

9:27 AM MDT | May 21, 2014 | Francinia Protti-Alvarez

Sociedad Química y Minera de Chile (SQM; Santiago) posted first-quarter net income of $81 million, down 46.5% year-on-year (YOY), as sales volumes from most business lines decreased, with the exception of lithium and derivatives. Pretax profit was $110.6 million, falling more than 44% YOY. Revenue also shrank by just over 14% YOY, to end the first quarter at $534.1 million, mostly as a result of lower iodine and iodine derivative sales, which collapsed from $147.9 million in the first quarter of last year, to $91.2 million in the most recent quarter. The...

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