Cameco quarterly profit jumps on higher uranium sales

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Cameco quarterly profit jumps on higher uranium sales

posted on Jul 31, 2014 09:47AM

by Thomson Reuters

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.

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