Lipari Releases Q1 2012 Financial Results

Lipari Energy, Inc. (TSX:LIP) announced financial results for first quarter 2012.

As quoted in the press release:

Lipari generated earnings before interest, taxes, depreciation, depletion and amortization (“EBITDA”) of $0.28 million during the first quarter of 2012. Adjusted EBITDA, after accounting for a change in the fair value of warrants, lease expenses and other adjustments, was $0.62 million during the first quarter of 2012.

Lipari’s CEO, John Liperote said:

We idled one surface mining operation during the quarter in an effort to reduce costs; however, we continue to be pleased with the highwall miner production at the Barger Branch Mine, as we are now in our second full month of production.

Click here for the Lipari Energy, Inc. (TSX:LIP) press release.