North American Palladium Reports Return to Profitability

North American Palladium (AMEX:PAL,TSX:PDL) reports that in the third quarter, they have returned to profitability.

The press release is quoted as saying:

During the third quarter of 2010, NAP returned to profitability with increased earnings and cash flow. Net income for the quarter ended September 30, 2010 was $3.2 million or $0.02 per share compared to a net loss of $6.2 million or $0.06 per share in the same quarter last year.

William J. Biggar, President and CEO of the company says:

“I think this milestone is indicative of the Company’s transformation over the last two years as we pursue our vision to become a mid tier precious metals producer. The execution of our strategic plan to optimize operations and reduce costs at LDI has driven improved financial performance. LDI is operating efficiently and the mine expansion is progressing on schedule.”

To access the full release, click here