August 13, 2008 / 11:54 AM / 9 years ago

UPDATE 1-Uranium One quarterly loss deepens, appoints CEO

(Adds details. In U.S. dollars unless noted)

TORONTO, Aug 13 (Reuters) - Uranium One Inc UUU.TO said on Wednesday it had a steeper second-quarter loss, mainly due to impairments on non-core assets held for sale.

The Canadian miner named Jean Nortier as president and chief executive.

Uranium One reported a loss of $67.9 million, or 15 cents a share, compared with a year-earlier loss of $13.7 million, or 4 cents a share.

Adjusted to exclude one-off charges, the company earned $6.6 million, or 1 cent a share, compared to a loss of $6.9 million, or 2 cents a share in the year-ago period.

A Reuters Estimates compilation of analysts’ forecasts had predicted adjusted earnings of one cent a share.

The company recorded an impairment charge on its assets held for sale of $81.2 million during the quarter.

Revenues rose to $49.4 million, from $23.3 million.

Uranium One said its second-quarter production totaled a record 767,100 pounds.

It left its 2008 production forecast unchanged at 3.1 million pounds. ($1=$1.07 Canadian) (Reporting by John McCrank; editing by Janet Guttsman)

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