Almonty Records Q2 2014 Revenue of $8.3 Million

Almonty Industries Inc. (TSXV:AII) filed its unaudited consolidated interim financial statements and management discussion and analysis for the three and six months ended March 31, 2014.

During the three months ended March 31, 2014, the company’s revenue came to $8,327,000, while its gross profit was $5,859,000. Meanwhile, EBITDA was $4,644,000 and net income was $2,462,000.

As quoted in the press release:

Production volumes for both the three and six month period ended March 31, 2014 were at record levels, increasing 32.3% and 6.9% over the three and six month comparative periods from 2013. Operating cash costs in US $ decreased 29.0% and 12.3% over the three and six month comparative periods from 2013 despite a significant increase in the value of the Euro vs the US$ from Euro 1.00 = USD1.2837 as at March 31, 2013 to Euro 1.00 = USD1.3776 as at March 31, 2014, an increase of over 7.3%.

APT prices average US$ 370/MTU and US$378/MTIU for the three and six month periods ended March 31, 2014 (US$325/MTU and US$325/MTU for the three and six month periods ended March 31, 2013).

Click here to read the full Almonty Industries Inc. (TSXV:AII) press release.