November 9, 2010 / 11:29 PM / 7 years ago

UPDATE 1-Silvercorp posts higher Q2 results

* Q2 EPS $0.08 vs $0.06 year ago

* Sales up 45 pct at $36.3 mln

* Silver production up 17 pct

Nov 9 (Reuters) - Canada’s Silvercorp Metals Inc SVM.TO posted higher second-quarter results as metals sales and average selling prices rose.

July-September profit rose 40 percent to $12.5 million, or 8 cents a share, from $8.9 million, or 6 cents a share, a year ago.

Excluding items, profit came in at 9 cents. [ID:nASA011DL]

Second-quarter sales rose 45 percent to $36.3 million, as average realized prices for silver, lead, and zinc increased by 33 percent, 21 percent and 26 percent respectively.

The Vancouver-based firm said silver production was up 17 percent at 1.34 million ounces.

The company’s shares, up 80 percent in the last three months, closed at C$11.69 on Tuesday on the Toronto Stock Exchange. (Reporting by Krishna N. Das in Bangalore)

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