VANCOUVER – Base and precious metals producer Imperial Metals Corp. (TSX:III) cited increased shipments among reasons for higher revenue and earnings in its most recent period.
The Vancouver-based concern said net earnings were almost $12 million or 16 cents per share in the second quarter, up from $8 million or 11 cents in the same 2011 period.
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Revenue in the three months ended June 30 soared to $69 million from $39.4 million.
Imperial said the June 2012 quarter included two concentrate shipments from its Mount Polley open pit copper-gold mine in central British Columbia and two concentrate shipments from the Huckleberry copper-molybdenum mine in northern B.C., compared with one apiece in the comparative 2011 quarter.
Variations in quarterly revenue attributed to the timing of concentrate shipments can be expected in the normal course of business, the company said.
On the Toronto Stock Exchange, shares of Imperial Metals were up 25 cents, or 2.98 per cent, at $8.65 in early afternoon trading Tuesday.
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