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Benjamin · 14-11-2005, 17:03

Uranium giant Cameco's Q3 profits rise to $78M from $52M but revenues fall
Tue Nov 1, 5:40 PM ET

SASKATOON (CP) - Uranium producer Cameco Corp. reported a 50 per cent jump in profits for the third quarter as improved results from its nuclear power business and rising uranium prices offset a drop in revenues.

The world's biggest uranium company (TSX:CCO - news) reported late Tuesday it earned $78 million or 45 cents a share for the quarter ended Sept. 30. That compared with a net profit of $52 million or 30 cents a share for the same period last year.

Revenues fell eight per cent to $287 million from $313 million.

Cameco (TSX:CCO) said third-quarter profits benefited from increased earnings from Bruce Power and improved results in the company's uranium business, mainly from higher prices for uranium, about 26 per cent higher than the same 2004 period .

These increases were partially offset by lower profits in its Centerra Gold business and higher charges for administration, exploration and income taxes , Cameco said after stock markets closed Tuesday.

In addition, Cameco's pre-tax earnings from its Bruce Power nuclear power joint venture operation in Ontario rose to $97 million from $28 million in 2004, as a result of higher electricity prices in Ontario.

"We are pleased with the higher realized uranium prices and the higher earnings from Bruce Power that contributed to a strong quarter," said Jerry Grandey, Cameco's president and CEO. "And we anticipate they will be significant contributors going forward."

14-11-2005, 17:03	#2
Benjamin TBB Family Registriert seit: Mar 2004 Beiträge: 10.374	Uranium giant Cameco's Q3 profits rise to $78M from $52M but revenues fall Tue Nov 1, 5:40 PM ET SASKATOON (CP) - Uranium producer Cameco Corp. reported a 50 per cent jump in profits for the third quarter as improved results from its nuclear power business and rising uranium prices offset a drop in revenues. The world's biggest uranium company (TSX:CCO - news) reported late Tuesday it earned $78 million or 45 cents a share for the quarter ended Sept. 30. That compared with a net profit of $52 million or 30 cents a share for the same period last year. Revenues fell eight per cent to $287 million from $313 million. Cameco (TSX:CCO) said third-quarter profits benefited from increased earnings from Bruce Power and improved results in the company's uranium business, mainly from higher prices for uranium, about 26 per cent higher than the same 2004 period . These increases were partially offset by lower profits in its Centerra Gold business and higher charges for administration, exploration and income taxes , Cameco said after stock markets closed Tuesday. In addition, Cameco's pre-tax earnings from its Bruce Power nuclear power joint venture operation in Ontario rose to $97 million from $28 million in 2004, as a result of higher electricity prices in Ontario. "We are pleased with the higher realized uranium prices and the higher earnings from Bruce Power that contributed to a strong quarter," said Jerry Grandey, Cameco's president and CEO. "And we anticipate they will be significant contributors going forward."