May 10 (Reuters) - Hecla Mining Co, the No. 2 U.S. silver miner by output, reported a 16 percent drop in first-quarter sales as prices of the precious metal fell.
Net profit fell to $11 million, or 4 cents per share, in the first quarter, from $12.4 million, or 4 cents per share, a year earlier. ()
The company reported sales of $76.5 million.
Silver prices fell 7.8 percent to average $30.08 per ounce during the January-March quarter from a year earlier.