Cameco Q2 Profit Declines, Results Miss View - Quick Facts

(RTTNews) - Canadian uranium producer Cameco Corp. (CCJ, CCO.TO) reported that its second-quarter net earnings attributed to equity holders was C$88 million or C$0.22 per share, down from C$127 million or C$0.32 per share in the year-ago period.

The latest quarter's results were affected by mark-to-market gains on foreign exchange derivatives.

On an adjusted basis, earnings for the quarter were C$46 million or C$0.12 per share, compared to C$79 million or C$0.20 per share in the year-ago period.

Revenue for the quarter increased 13 percent to C$565 million from C$502 million last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of C$0.20 per share on revenues of C$566.61 million for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2015, Cameco forecasts consolidated revenue to increase by 5 percent to 10 percent.

The company's board of directors approved a quarterly dividend of C$0.10 per share on the outstanding common shares of the corporation that is payable on October 15, 2015, to shareholders of record at the close of business on September 30, 2015.