Uranium One Moves Back Into Profit for 2015

In its 2015 financial and operational results, Uranium One (TSX:UUU) reported adjusted net earnings of $41.1 million, compared to adjusted net losses of $57.4 million in 2014.
As quoted in the press release:

2015 Highlights
Operational

• The average total cash cost per pound sold of produced material was $11.4 per pound during 2015 compared to $14.0 per pound during 2014.
• Total attributable production during 2015 was 12.5 million pounds compared to 10.4 million pounds in 2014. The Corporation did not recognize production from the Akdala, South Inkai and Kharasan mines, due to the loss of subsoil rights to produce uranium at those mines, from June 4, 2014 to October 17, 2014. The Corporation’s attributable production would have been 12.6 million pounds for 2014 if these rights had not been lost.

Financial

• Attributable sales volumes of produced material for 2015 were 12.3 million pounds sold from the Corporation’s operations and joint ventures, compared to 10.8 million pounds sold during 2014. Similarly, sales volume of produced material during 2014 was impacted by the temporary loss of the subsoil use rights for the Akdala, South Inkai and Kharasan mines.
• Headline revenues were $324.7million in 2015, compared to $260.9 million in 2014.
• Attributable revenues consistent with the Corporation’s segment reporting, which includes revenues from interests in joint ventures, amounted to $541.2 million in 2015, compared to $476.2 million in 2014.
• The average realized sales price of produced material as well as the average spot price during 2015 was higher at $36 per pound and $37 per pound respectively, compared to $33 per pound in 2014.
• Gross profit was $4.4 million during 2015, compared to gross loss of $11.4 million in 2014.

Click here for the full press release.