Cameco Q2 Profit Soars

(RTTNews) - Canada-based uranium producer Cameco Corp.'s (CCO.TO, CCJ) second-quarter IFRS net earnings attributable to equity holders climbed to C$34 million, or C$0.09 per share, from the prior year's C$5 million, or C$0.01 per share. On a non-IFRS basis, adjusted net earnings totaled C$61 million, or C$0.15 per share for the quarter. On average, 12 analysts polled by Thomson Reuters expected earnings per share of C$0.19 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenue went up 49% year-over-year to C$421 million, from C$282 million. Analysts estimated revenues of C$571.54 million for the quarter. In addition, the company said it has planned to cut costs.