Silver Wheaton (TSE:SLW) (NYSE: SLW) is one of those companies most investors love to own a piece of, and even when they perform strongly, expectations can be very high and difficult to meet.
That's the case in their latest quarter where their first-quarter profits almost tripled to $44.6 million, or 13 cents a share, while analysts had been looking for 16 cents a share. Last years' earnings were $15.1 million, or 6 cents a share.
Revenue for the quarter increased to $85.9 million, and 128.5 percent rise over last year, but again, missing the $91.3 million estimated by analysts.
Earnings for the quarter were largely helped by the 45 percent increase in the price of silver.
Silver equivalent sales grew by 58 percent to 5 million ounces (combination of gold and silver).
The price Silver Wheaton averaged for silver in the quarter was $17,27 an ounce, and for gold they received an average of $1 100 an ounce.
Guidance for attributable silver equivalent was reiterated as 23.5 million ounces for 2010.
No comments:
Post a Comment