Skip to main content

Uranium One Inc. reported a loss of $148.2-million in the fourth quarter as it booked a series of one-time items.

The company, one of the world's largest publicly traded uranium producers, said the performance for the three-month period ended Dec. 31, 2010 compared to a profit of $179.6-million a year earlier.

The net loss amounted to 24 cents per share and compared with a profit of 38 cents per share in the fourth quarter of 2009.

On an adjusted basis, Uranium One earned one cent per share or $8-million, falling short of analyst expectations of four cents per share, according to Thomson Reuters.

Revenues increased to $152.3-million from $69.1-million.

For the year, losses were $189.7-million compared to $36.1-million in 2009. Revenue grew 115 per cent to $327-million from $152-million on higher sales volumes.

"With a resurgence in the price of uranium, I am particularly excited about Uranium One's position as a low cost producer with a high degree of leverage to the uranium price," said chief executive Chris Sattler in a release.

"Our goals for 2011 are much the same as they were last year - to continue to deliver on our production and cost targets and to continue to add quality assets to our portfolio."

In its outlook, average uranium cash cost is expected to be $18 per pound compared to $13 per pound in 2010.

Uranium One has a globally diversified portfolio of assets in Kazakhstan, the United States and Australia.

Interact with The Globe