Uranium miner Cameco Corp. says it swung to a $13 million loss in the third quarter, as revenue dropped 38 per cent from the comparable period last year.
The Saskatoon-based company says the loss for the quarter ending Sept. 30 worked out to three cents per share, compared with earnings of $28 million or seven cents per share for the same quarter last year.
Cameco had an adjusted net loss of $2 million, or a penny per share, compared with earnings of $15 million or four cents per share last year.
Revenue came in at $303 million, down from $488 million a year earlier.
Analysts had expected a net income of $15.1 million, or one cent, and revenue of $498.5 million.
The company boosted its revenue outlook for the year by $40 million to between $1.77 billion and $1.92 billion.