Fortuna Reports Net Income of US$ 12.96 million on Revenue of US$ 74.06 million

About this update from Fortuna Mining Corp.

[{"type":"text","content":"\n\n\n Mar. 24, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, March 24 /CNW/ - Fortuna Silver Mines Inc. (TSX: FVI) (Lima Exchange: FVI) has filed its audited financial statements and MD&A for 2010. The full\n documents are available on SEDAR and have also been posted on the\n Company's website at www.fortunasilver.com.\n\n\n2010 Financial Statements and MD&A Highlights:\n\n\n\nNet income of US$ 12.96 million, compared to US$ 0.62 million in 2009\n\n\nEarnings per share of US$ 0.12, compared to US$ 0.01 in 2009\n\n\nSales of US$ 74.06 million compared to US$ 51.43 million in 2009;\n increase of 44%\n\n\nNet cash from operating activities of US$ 21.02 million, compared to US$\n 13.69 million in 2009, increase of  54%\n\n\nCash position (including short term investments) and working capital as\n at year end were US$ 90.81 million and US$ 97.09 million respectively\n\n\nRecord silver production: 1,906,423 oz, up 13% over 2009\n\n\nSilver accounted for 48% of revenue\n\n\nCash cost per silver oz, net of by-product credits, was negative US$\n 7.73\n\n\nCash cost per tonne of ore was US$ 51.20 and the corresponding unit net\n smelter return (NSR) was US$ 163.59\n\n\n\nJorge Ganoza, President and CEO, commented: "Fortuna remains one of the\n lowest cost silver producers. During 2010, the Company capitalized on\n the increase of silver and base metal prices providing its best year to\n date in earnings and operating margins.  With the commissioning of our\n ...

More updates from Fortuna Mining Corp.