Paladin Energy Blames Lower Prices for Dip in Profits

Paladin Energy Ltd  (TSX:PDN,ASX:PDN) announced their financial results for the nine months to 31 March 2013, including a drop in gross profits, which they attributed to lower prices.

As quoted in the press release:

SALES AND REVENUE
 Strong sales of US$106M for the quarter selling 1.92Mlb U3O8 at an average realised sales price of
US$55.22/lb.
 Sales revenue for the nine months increased by 25% from US$240.0M in 2012 to US$301.0M in 2013. Sales
volume for the nine months increased by 33% from 4.457Mlb U3O8 in 2012 to 5.928Mlb U3O8 in 2013.
 Average realised sales price of US$50.8/lb U3O8 for the nine months ended 31 March 2013, compared to
average UxC spot price of US$44.95lb.

To view the whole press release, click here.