Imperial Reports 2009 Financial Results

Imperial Metals Corporation (TSX:III) announced operating income of $24.8 million for its fiscal year ended 2009, close to the level achieved in 2008 ($25.4 million).

The press release is quoted as saying:

Non cash losses on derivative instruments pushed overall results into negative territory with a net loss of $0.39 per share for 2009 compared to net income of $1.83 per share in 2008 when falling metal prices had the reverse effect on derivative instrument accounting. Adjusted net income, a better reflection of overall results, was $1.16 per share in 2009 compared to $1.71 in 2008.

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