A leader in Precious Metal News Commentary

Tuesday, November 8, 2011

Silvercorp Quites the Critics? Reports Revenue Up 71% to $62.1 Million and Record Operating Cash Flow Up 140% to $35.2 Million in the 2nd Quarter of Fiscal 2012

 This may put to rest those critics shorting SilverCorp to $0!

VANCOUVER, BRITISH COLUMBIA, Nov 08, 2011 (MARKETWIRE via COMTEX) -- Silvercorp Metals Inc. CA:SVM -0.52% SVM -0.84% ("Silvercorp" or the "Company") today reported its unaudited financial and operating results for the second quarter ended September 30, 2011 ("Q2 2012"). The following financial results are expressed in US dollars (US$) unless stated otherwise.
The Company reported adjusted earnings (a non-IFRS "International Financial Reporting Standards" measure) of $23.6 million, $0.14 per share, in the second quarter of fiscal 2012. Net income attributable to shareholders was $18.5 million, $0.11 per share. The Company also reported record operating cash flow of $35.2 million and revenue of $62.1 million based on average net realized silver selling price of $30.48 per ounce. 

1 comment:

  1. I hope they find out who was spreading the rumors and sue that prick for lots of money.