Uranium One revenue falls 17%

The Globe and Mail reports on Uranium One’s revenue falling 17 per cent due to operating costs increasing and eliminating large currency-related accounting gain.

The net loss amounted to 4 cents per share in the first quarter, before adjustments, with $35.5-million of revenue. A year earlier, revenue was $43-million and profit was $61.1-million or 13 cents per share.

The adjustments included unrealized foreign exchange losses and gains on future income tax liabilities. Last year, Uranium had a $68.9-million unrealized gain whereas this year it had a $1.2-million loss on this item.

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