SANTIAGO, Chile, Oct. 27, 2009 (PRNewswire-FirstCall) -- Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported today earnings for the first nine months of 2009 of US$251.7 million (US$0.96 per ADR), a decrease of 34.0% with respect to the same period of 2008, when earnings totaled US$381.1 million (US$1.45 per ADR). Operating income reached US$342.0 million (32.6% of revenues), 29.0% lower than the US$481.4 million (35.0% of revenues) recorded during the first nine months of 2008. Revenues totaled US$1,049.2 million for the first nine months, representing a decrease of 23.8% over the US$1,376.2 million reported in the same period of 2008.

Third quarter earnings declined to US$82.3 million (US$0.31 per ADR) compared to the third quarter 2008 figure of US$190.6 million (US$0.72 per ADR). Operating income for the third quarter reached US$110.1 million, lower than the US$239.1 million recorded for the same period of 2008. Revenues totaled US$383.5 million, lower than the third quarter 2008 revenues, which amounted to US$589.1 million.

Patricio Contesse, SQM's Chief Executive Officer, stated, "Although quarterly earnings are significantly lower than those recorded in the third quarter last year, this decline is overstated given that 3Q08 was the highest quarter ever recorded in company history. Additionally, net income recorded in 3Q09 is 98% higher than net income posted in 3Q07, making 3Q09 earnings the second highest third quarter earnings reported."

He continued, "We believe that markets have bottomed out across all of our business lines and are beginning to turn around. The recovery process is slow and will most likely remain slow in the following year. In the case of potassium-related fertilizers, prices in the second half of this year have been lower than in the first half, so it is reasonable to expect that average prices for 2010 for all of our fertilizer products should be lower than average prices in 2009. However, we expect moderately higher volumes from our Specialty Plant Nutrition division and significantly higher potash volumes for next year, in line with the announced capacity increase."

Mr.