Q3 results out and up she goes?Not quite smokin' hot, but you can see it from here.
THOMPSON CREEK ANNOUNCES THIRD-QUARTER 2010 REVENUES UP 41% AND CASH FLOW FROM OPERATIONS UP 143% (cnw)
NYSE: TC
TSX: TCM, TCM.WT
TSX-V:TRX.WT, TRX.WT.A
TORONTO, Nov. 4/CNW/ - Thompson Creek Metals Company Inc. ("Company" or "ThompsonCreek"), a growing, diversified, North American mining company, todayannounced financial results for the three and nine months endedSeptember 30, 2010 prepared in accordance with United States generally accepted accounting principles ("US GAAP"). All dollar amounts are in United States ("US") dollars unless otherwise indicated.
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Highlights for the Quarter:
- Revenues for the third quarter of 2010 were $161.8 million, up 41.4%
from $114.4 million for the third quarter of 2009.
- Net Income for the third quarter of 2010 was $31.1 million, or
.22
per basic and diluted share, which included a non-cash unrealized
loss on common stock warrants of $20.5 million, or
.15 per basic
and
.14 per diluted share. Net loss for the third quarter of 2009
was $1.4 million, or
.01 per basic and diluted share, which
included a non-cash unrealized loss on common stock warrants of $15.7
million, or
.12 per basic and diluted share.
- Non-GAAP Adjusted Net Income for the third quarter of 2010 (excluding
the non-cash unrealized loss on the warrants) was $51.6 million, or
.37 per basic and
.36 per diluted share. Non-GAAP adjusted net
income for the third quarter of 2009 (excluding the non-cash
unrealized loss on the warrants) was $14.3 million, or
.11 per
basic and diluted share.
- Molybdenum Production for the third quarter of 2010 was 8.0 million
pounds, up 28% from 6.2 million pounds for the third quarter of 2009.
- Cash Flow From Operations was $59.0 million for the third quarter of
2010, up 143.8% from $24.2 million for the third quarter of 2009.
- Capital Costs for the nine months ended September 30, 2010 were
$169.7 million, comprised of $65.0 million of capital costs for the
mines, the Langeloth facility and corporate, and $104.7 million for
the Company's 75% share of capital costs for the Endako mill
expansion project. The capital costs for the first nine months of
2010 included accrued amounts of $22.4 million at September 30, 2010;
therefore, capital expenditures for the first nine months of 2010
were $147.3 million.
- Cash, Cash Equivalents and Short-term Investments as of September 30,
2010 were $493.0 million, compared to $511.5 million as of December
31, 2009. Total debt as of September 30, 2010 was $9.9 million,
compared to $12.9 million as of December 31, 2009.