Cameco Corp profit jumps on higher uranium sales

Financial Post - Top Stories http://ift.tt/Xk0wvN

TORONTO — 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 $127 million, or 32 cents a share, from $34 million, or 9 cents, a year earlier.

Excluding the impact of mark-to-market gains on foreign exchange derivatives and other one-time items, the company earned $79 million, or 20 cents a share, from $61 million, or 15 cents a share, a year earlier.

Quarterly revenue surged nearly 20% to $502 million.

Related

• Cameco already pricing in uranium upside


• Cameco finally starts up production at Cigar Lake after years of delays

© Thomson Reuters 2014