August 13, 2012 / 9:58 PM / 6 years ago

Uranium One profit falls on lower uranium price

(Reuters) - Canada’s Uranium One Inc’s UUU.TO quarterly earnings fell 2 percent as it sold less uranium at lower prices.

The uranium producer’s earnings fell to $29.2 million, or 3 cents per share, in the second quarter, from $29.7 million, or 3 cents per share, a year earlier.

Excluding items, the company earned $8.8 million, or 1 cent per share.

Analysts on average had expected earnings of 2 cents per share, according to Thomson Reuters I/B/E/S.

Revenue fell 14 percent to $96.8 million. Average realized sales price fell 10 percent to $52 per pound in the quarter.

Sales volumes fell 5 percent to 1.9 million pounds in the quarter, while production rose 28 percent to 3 million pounds.

Toronto-based Uranium One is 51 percent held by Russia’s ARMZ, the uranium division of state nuclear firm Rosatom.

Shares of the company closed at C$2.10 on Monday on the Toronto Stock Exchange.

Reporting by Julie Gordon in Toronto and Ankur Banerjee in Bangalore; Editing by Supriya Kurane

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below