Operator: Good morning and welcome to the SQM Fiscal Year 2012 Earnings Conference Call. All participants will be in listen-only mode. Please note this event is being recorded.
I would now like to turn the conference over to Mark Fones, Vice President of Finance and Investor Relations. Please go ahead.
Mark Fones - IR: Good morning, everyone, and welcome to SQM's fiscal year 2012 earnings conference call. For your information this conference call will be recorded and is being webcast live. You may access the webcast later on at our website www.sqm.com. Joining me today our speakers are Patricio Contesse, our Chief Executive Officer; Patricio Solminihac, Executive Vice President and Chief Operating Officer; and Ricardo Ramos, CFO.
Before we begin, let me remind you that statements in this conference concerning the Company's business outlook, future economic performances, anticipated profitability, revenues, expenses, or other financial items, anticipated cost synergies, and product or service line growth, together with other statements that are not historical facts, are considered forward-looking statements as that term is defined under the Federal Securities Laws.
Any forward-looking statements or estimates, reflecting the best judgment of SQM, based on currently available information and involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. Risks, uncertainties and factors that could affect the accuracy of such forward-looking statements are identified in the public filings made with the Securities and Exchange Commission, and forward-looking statements should be considered in light of those factors.
I now leave you with our CEO, Patricio Contesse for brief comments before we move to Q&A.
Patricio Contesse - CEO: Good morning and welcome to SQM '12 earnings conference call. I will start with a brief introduction before I open up the lines for questions. We are pleased with our performance throughout 2012. We posted higher sales volume and revenues in our potassium, industrial chemicals, and lithium and derivatives business line when compared to 2011.
In addition to this strong result we finalized some major capital investment during 2012 and plan to keep this momentum during the next year. In 2013 we expect lithium iodine demand to continue growing at healthy rate. We also expect new supplies mainly from existing competitors who has been under development in recent years to enter the market. Furthermore, as we saw for our recent expansion we will increase our sales volume in 2013 in potassium business line and expect to see market demand recover. We do see some new challenges related to the fertilizer side when the markets (indiscernible) closed at the lower price than seen in the early months of 2012.
We also believe that the product delay for solar terminal energy storage probably will have an effect on our industrial chemical business line. In general, we believe our unique synergies delivers products and our various competitive advantages will support us in our effort to maximize shareholders value and profits in the coming years.