RE:$177,500,000 Revenues $.21 Basic..$.16 Fully Diluted... uesday, March 26, 2019, 5:35 PM ET
Largo Resources Announces Record Full Year Production and Net Income of $316.0 Million in 2018
All financial figures are in Canadian dollars unless otherwise stated.
Q4 2018 Highlights
-- Net income of $108.0 million and basic earnings per share of $0.21 in Q4
2018
-- Revenues of $177.5 million in Q4 2018, a 262% increase over Q4 2017 and a
19% increase over Q3 2018
-- Cash provided before non-cash working capital items of $134.4 million in
Q4 2018, an increase of $112.9 million over Q4 2017
-- Record production of 2,595 tonnes of V2O5 in Q4 2018
Full Year 2018 Highlights
-- Net income of $316.0 million and basic earnings per share of $0.61 in
2018
-- Revenues of $521.4 million in 2018, a 211% increase over 2017
-- Cash provided before non-cash working capital items of $403.2 million in
2018, an increase of $336.1 million over 2017
-- Cash operating costs excluding royalties of $4.41 (US$3.38) in 2018
-- $206.2 million in cash exiting 2018
-- Record production of 9,830 tonnes of V2O5 in 2018, exceeding midpoint
guidance of 9,650 tonnes by 2% and a 6% increase over 2017
-- Four consecutive quarters of production growth in 2018
-- Expansion plan completion target of Q2 2019 with ramp up to follow in Q3
2019