North American Palladium reports 17% revenue increase

8/7/2008 8:41:46 AM | Buzz on the Boards

274 Reads

Rate this

clarity
1

clarity : 1
Rate this:

overall quality
1 overall quality : 1
Average quality rating by the Stockhouse community.

credibility
1

credibility : 1
Rate this:

usefulness
1

usefulness : 1
Rate this:

Results in for palladium producer: $52.2 million in revenue.

North American Palladium (TSX: T.PDL, Stock Forum) today announced second quarter results for fiscal 2008; highlights include a 17% increase in revenue over last year’s Q2, up $7.7 million to $52.2 million, and income from mining operations (before an insurance recovery of $13.8 million) was $4.1 million, compared to a loss of $6.1 million in the same period last year. Net income came in at $10.4 million, or 13 cents per share, compared to a net loss of $9.1 million, or 17 cents per share, in the second quarter last year.

Palladium production was roughly on par with last year’s volume, at 65,791 ounces. Cash costs for the quarter came down compared to last year’s, at $219 an ounce versus $242. Meanwhile, the sale price per ounce rose from $365 last year to $467.

On the PDL Bullboard, Stockhouse investor topadvisor offered these cautionary words: “Look at the chart. It is on a long downward trend. It will be interesting if it breaks it's [sic] low. The markets are brutal right now, so many stocks are looking dismal. It will eventualy [sic] create great buying opportunities, but for some; not just yet.”

Shares of North American Palladium closed up over 7% to $4.18 on Wednesday.

Stockhouse Conflict and Disclosure Policy:

Stockgroup Media Inc., owners and operators of Stockhouse.com, has established the following rules to ensure that there is no appearance of impropriety on the part of any Stockhouse Editorial writers ("Writers"). The content of Stockhouse Editorial articles (the "Articles") are the opinion of the Writer and any reliance on the content of these articles is at your sole risk. Our Writers are not registered investment advisors. You should not make any kind of investment decision in relation to Articles or stocks discussed in them without obtaining advice from a registered investment advisor.

Facts relied upon by our Writers are generally provided by the subject companies or gathered by our Writers from other public and/or private sources. These facts may be in error and if so, the opinions of our Writers may be materially different.

Writers may own, buy, or sell shares in public companies mentioned in their Articles, but in the Article they must prominently state their ownership position. Thus, a conflict may exist. Writers are not permitted to write Articles that attempt to benefit persons connected to the Writer, such as family or friends, except where disclosure is made in the same way as if the Writer him/herself owns stock.

Writers cannot solicit, accept, or agree to receive anything of value given or paid with the intent of influencing their Articles.

Stockhouse notifies each Writer about these rules, and we rely on the integrity of our Writers to ensure that our rules are followed.

FREE REPORTS