Earnings for the first quarter ended March 31 for Hecla Mining (NYSE) were US$4.6 million compared with a loss of US$2.5 million in the corresponding year-earlier period. The improvement in results was attributed to a US$2-million gain on the sale of the company’s Golden Dome property in Sierra Cty., Calif., as well as a non-recurring US$1.6 million in reclamation costs incurred in the first quarter of 1989.
Revenue for the quarter was US$34 million compared with US$24.4 million in the first quarter of 1989. The increase was the result of increases in both gold and silver sales. The average price received for an ounce of gold was US$407 versus US$394 while silver did not fare as well, the average price dropping to US$5.19 from US$5.93. Hecla Mining (NYSE) $000s except per-share items* Revenue $34,014 $24,434 Net earnings (loss) 4,599 (2,539)
per share 0.17 (0.09) *US dollars004
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