Cameco quarterly profit jumps on higher uranium sales

Thu Jul 31, 2014 9:27am EDT
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TORONTO, July 31 (Reuters) - Canadian uranium miner Cameco Corp reported on Thursday that its second-quarter profit jumped, driven by higher uranium sales.

Saskatoon, Saskatchewan-based Cameco said net income in the quarter ended June 30 rose to C$127 million ($116.3 million), or 32 Canadian cents a share, from C$34 million, or 9 Canadian cents, a year earlier.

Excluding the impact of mark-to-market gains on foreign exchange derivatives and other one-time items, the company earned C$79 million, or 20 Canadian cents a share, from C$61 million, or 15 Canadian cents a share, a year earlier.

Quarterly revenue surged nearly 20 percent to C$502 million.

($1 = 1.0916 Canadian dollars) (Reporting by Euan Rocha; Editing by Bernadette Baum)