Endeavour Silver Corp’s Net Earnings Drop 27 Percent in Q1

Endeavour Silver Corp. (TSX:EDR, NYSE:EXK) announced their  financial results for Q1 2013.

As quoted in the press release:

Highlights of First Quarter 2013 (Compared to First Quarter 2012)

Financial

• Net earnings decreased 27% to $14.4 million ($0.14 per share)

• Adjusted earnings⁽¹⁾ decreased 34% to $12.9 million ($0.13 per share)

• EBITDA⁽¹⁾ decreased 8% to $31.0 million

• Cash flow from operations, before working capital changes decreased 8% to $24.3 million

Endeavour’s CEO, Bradford Cooke, said:

Endeavour enjoyed a very good start to the year, setting new records for quarterly silver and gold production. As a result, the Company established new highs for quarterly revenue and mine operating cash flow, although operating cash flow and net earnings were both lower than last year due to a higher operating cost, increased exploration activity and larger depletion related to the El Cubo acquisition.

To view the whole press release, click here.