Business
IMPACT SILVER ANNOUNCES RECORD NET EARNINGS UP 196% IN 2010
Apr. 13, 2011 (TheNewswire.ca) -- IMPACT Silver Corp. ("the Company" or "IMPACT") is pleased...
About this update from Impact Silver Corp.
[{"type":"text","content":"\nIMPACT SILVER ANNOUNCES RECORD NET EARNINGS UP 196% IN 2010\n\n Apr. 13, 2011 (TheNewswire.ca) -- IMPACT Silver Corp. (\"the Company\" or \"IMPACT\") is pleased to announce the audited financial results for the Company's year ending December 31, 2010. The full version of the financial statements and the Management's Discussion and Analysis can be viewed on the Company's website at www.impactsilver.com or on SEDAR at www.sedar.com.-Revenues for the year reached $16.7 million, up 37% from $12.2 million in 2009.-Net earnings for the year reached $3.4 million, up 196% from $1.2 million in 2009.-Mine operating earnings were $7.4 million, up 79% from $4.2 million in 2009.-Silver production for the year reached 750,259 ounces, marginally down 9% from 823,571 ounces in 2009 as the Company revised cut-off grades and mined more medium grade ore because of high silver prices.-Cash flows from operations before changes in non-cash working capital1 were $5.6 million, up 49% from $3.7 million in 2009.-Revenue per production tonne sold for the year reached $123.25, up 13% from $109.51 in 2009, while direct costs per tonne produced marginally increased from $58.43 to $63.29 per tonne.-After investing $5.1 million in property, plant and equipment, resource properties and exploration during 2009, the Company had cash and cash equivalents of $18.7 million, up 253% from $5.3 million in 2009.FINANCIAL SUMMARY ($CDN)\n\n---------------------------------------------------------------------\n|  |Three Months Ended |Year Ended |\n|-------------------------------------------------------------------|\n|  |Dec 31st 2010|Dec 31st2009|Dec 31st 2010|Dec 31st 2009|\n|-------------------------------------------------------------------|\n|Revenues |$6,819,859 |$2,333,152 |$16,677,710 |$12,176,115 |\n|-------------------------------------------------------------------|\n|Mine |$3,543,317 |$419,439 |$7,435,484 |$4,164,719 |\n|Operating | | | | |\n|Earnings | | | | |\n|-------------------------------------------------------------------|\n|Net Earnings|$2,109,956 |$115,571 |$3,437,675 |$1,159,661 |\n|-------------------------------------------------------------------|\n|Earnings |$0.04 |$0.00 |$0.07 |$0.02 |\n|per | | | | |\n|Share | | | | |\n|-Basic & | | | | |\n|Fully | | | | |\n|Diluted | | | | |\n|------------------------------------------------------...