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SILVERCORP REPORTS ADJUSTED EARNINGS OF $13.5 MILLION, $0.08 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $40.2 MILLION FOR Q1 FISCAL 2023
SILVERCORP REPORTS ADJUSTED EARNINGS OF $13.5 MILLION, $0.08 PER SHARE, AND CASH FLOW FRO...
About this update from Silvercorp Metals Inc.
[{"type":"text","content":"\n \n \n \n SILVERCORP REPORTS ADJUSTED EARNINGS OF $13.5 MILLION, $0.08 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $40.2 MILLION FOR Q1 FISCAL 2023\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Trading Symbol:\n \n \n TSX:\n \n \n SVM\n \n \n \n NYSE AMERICAN: SVM\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 11, 2022\n \n \n /CNW/ -\n \n Silvercorp Metals Inc.\n \n (\"Silvercorp\" or the \"Company\") (TSX: SVM) (NYSE American: SVM) reported its financial and operating results for the three months ended\n \n June 30, 2022\n \n (\"Q1 Fiscal 2023\"). All amounts are expressed in US Dollars, and figures may not add due to rounding.\n \n \n \n \n HIGHLIGHTS FOR Q1 FISCAL 2023\n \n \n \n \n \n Mined 300,104 tonnes of ore and milled 298,176 tonnes of ore, up 30% and 23% compared to the prior year quarter;\n \n \n \n \n Sold approximately 1.9 million ounces of silver, 1,100 ounces of gold, 19.1 million pounds of lead, and 6.9 million pounds of zinc, representing increases of 17%, 10%, and 14% in silver, gold and lead sold, and a decrease of 5% in zinc sold, compared to the prior year quarter;\n \n \n \n \n Revenue of\n \n $63.6 million\n \n , up 8% compared to\n \n $58.8 million\n \n in the prior year quarter;\n \n \n \n \n Net income attributable to equity shareholders of\n \n $10.2 million\n \n , or\n \n $0.06\n \n per share, compared to\n \n $12.2 million\n \n , or\n \n $0.07\n \n per share in the prior year quarter;\n \n \n \n \n Adjusted earnings attributable to equity shareholders of\n \n $13.5 million\n \n , or\n \n $0.08\n \n per share, compared to\n \n $15.8 million\n \n , or\n \n $0.09\n \n per share in the prior year quarter. The adjustments were made to remove impacts from impairment charges, share-based compensation, foreign exchange, mark-to-market equity investments, and the share of associates' operating results.\n \n \n \n \n Cash flow from operations of\n \n $40.2 million\n \n , up 10% or\n \n $3.7 million\n \n compared to\n \n $36.5 million\n \n in the prior year quarter;\n \n \n \n \n Cash cost per oun...