Hecla Mining Q1 Profit Rises, Sales Beat View - Quick Facts

(RTTNews) - Silver producer Hecla Mining Co (HL) reported first-quarter net income applicable to common stockholders of $12.41 million or $0.03 per share, compared to net income of $11.50 million or $0.03 per share in the year-ago period.

Excluding items, adjusted loss for the quarter were $0.02 per share, compared to breakeven results in the year-ago period.

Sales for the quarter declined to $119.09 million from $125.79 million in the prior-year period.

On average, analysts polled by Thomson Reuters expected the company to report loss of $0.02 per share for the quarter on revenues of $118.35 million. Analysts' estimates typically exclude special items.

Sales for the quarter were 5 percent lower from the year-ago period due to lower realized silver, gold, and lead prices, partially offset by higher zinc prices.

Further, the company's board of directors declared a quarterly dividend of $0.0025 per share of common stock, payable on or about June 1, 2015, to shareholders of record on May 22, 2015. The company's realized silver price was $17.18 in the first quarter and therefore did not satisfy the criteria for a larger dividend under the company's dividend policy.

The board also declared the regular quarterly dividend of $0.875 per share on the outstanding shares of Series B Cumulative convertible preferred stock. This represents a total amount to be paid of approximately $138,000. The cash dividend is payable July 1, 2015, to shareholders of record on June 15, 2015.