Tuesday, November 08, 2016 9:00:36 AM
THIRD QUARTER HIGHLIGHTS AND SIGNIFICANT ITEMS (compared to Q3 2015)
-- Net income applicable to common shareholders of $25.7 million, or $0.07 per share.
-- Sales of $179.4 million, up 71%, a record.
-- Adjusted EBITDA of $75.2 million, up 323%.(1)
-- Cash provided by operating activities of $87.0 million, up 225%. Includes $16 million of insurance proceeds for the Troy Mine reclamation.
-- Free cash flow of $27.7 million, up $38 million.(2)
-- Total silver production of 4.3 million ounces, up 67%.
-- Gold production of 52,126 ounces, up 19%.
-- Silver equivalent production of 10.3 million ounces, up 17%.(3)
-- Last 12 months net loss of $13.7 million and adjusted EBITDA of $234 million.(1)
-- Net debt/adjusted EBITDA (last 12 months) of 1.4x, a 49% decline.(1,4)
-- Cash and cash equivalents and short-term investments of $192.4 million at September 30, 2016, up $33 million over the second quarter.
-- Completed the acquisition of the Montanore project, located near the Rock Creek project.
-- Reduced estimate for 2016 cash cost, after by-product credits, per silver ounce to $4.00 and increased estimate for 2016 cash cost, after by-product credits, per gold ounce to $750.(5)
"Hecla's quarterly production growth, record sales, cash provided by operating activities of $87 million and free cash flow of $28 million reflect how our commitment to invest when prices were lower allows us to now reap the benefits of having more production at higher prices," said Phillips S. Baker, Jr., Hecla's President and CEO. "This quarter was just another step towards establishing new 125-year records in 2016. Our free cash flow and strengthening balance sheet allow us to immediately invest in more innovation, exploration and high-return projects. And with the acquisition of our second large undeveloped silver project, Montanore, we expect to generate additional value in the future."
http://www.businesswire.com/news/home/20161108005347/en/
I am only expressing my personal opinions or repeating public information from SEC filings or media outlets-which may or may not be correct. Do your own investigating before investing!
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