Agoracom: Small Cap Investment - Cameco Corporation - Cameco profit plummets on lower sales, higher costs

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Cameco's vision is to be a dominant nuclear energy company producing uranium fuel and generating clean electricity. Our key strategy to deliver this vision is to sustain and grow uranium production in a way that is safe, clean, cost-effective and communit

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Cameco profit plummets on lower sales, higher costs

posted on Jul 27, 2012 09:15AM

July 27 | Fri Jul 27, 2012 8:40am EDT

July 27 (Reuters) - Canada's Cameco Corp said on Friday its second-quarter profit dropped on lower realized uranium price, a fall in sales volumes and higher costs.

The world's largest publicly-traded uranium producer earned C$8 million, or 2 Canadian cents a share in the quarter. That compared with C$55 million, or 14 Canadian cents a share, in the year-earlier period.

Adjusted to remove a one-time expense related to a contract termination, earnings were C$34 million, or 9 Canadian cents a share.

Revenue fell 8 percent to C$391 million.

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