Business
Avino Silver & Gold Mines Achieves Another Quarter of Record Financial Performance for Q1 2025
VANCOUVER, BC / ACCESS Newswire / May 13, 2025 / Avino Silver & Gold Mines Ltd. (TSX:ASM) (NYSE American:ASM) (FSE:GV6) a long-standing silver producer in Mexic
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":" VANCOUVER, BC / ACCESS Newswire / May 13, 2025 / Avino Silver & Gold Mines Ltd. (TSX:ASM) (NYSE American:ASM) (FSE:GV6) a long-standing silver producer in Mexico, announces its audited consolidated financial results for the first quarter of 2025. All amounts are in U.S. dollars unless stated otherwise. \"Avino started off 2025 the same way we ended 2024, achieving another quarter of record financial results and strong operational execution,\" said David Wolfin, President and CEO. \"The Company posted record earnings and continues to demonstrate strength across key financial metrics, as our operating margins further strengthened our debt-free balance sheet with record highs in working capital. Our operating costs decreased for another consecutive quarter and further increased margins, where we delivered record quarterly earnings. Looking forward to growth, I am thrilled with the development progress at La Preciosa, as we continue to work towards being a multi-asset producer. I would like to thank our operations team for continuing to deliver positive cost improvements, your dedication to the entire operation does not go unnoticed. With strong operational performance, a healthy cash position, and record working capital of over $31 million, Avino is well-positioned to capitalize on positive market trends in the precious metals sector. We remain disciplined and committed to our organic growth strategy. Backed by our financial strength, management is actively exploring opportunities to accelerate our expansion plans. We are focused and on track to deliver sustainable growth and long-term value for all stakeholders and shareholders. First Quarter 2025 Financial Highlights (compared to Q1 2024) Record Quarterly Net Income: Net income after taxes was $5.6 million, or $0.04 per share, a meaningful increase from $0.6 million, or $0.00 per share. Net income was also 10% higher than the $5.1 million realized in Q4 2024. Robust Revenues: Avino realized revenues of $18.8 revenue, representing a 52% increase from Q1 2024, primarily as a result of increased metal prices and consistent production. At the end of the quarter, there was $5.6 million in concentrate sales receivable, that was settled subsequent to quarter end. Record Quarterly Gross Profit: Gross profit, or mine operating income, was $10.6 million and represented an increase of ...