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Latest Headlines
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Nov 12, 2009 10:36:00 AM MST
Paladin Energy suffers big increase in Q3 loss; revenue down almost US$14M (Paladin)
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PERTH, Australia _ Uranium producer Paladin Energy Ltd (TSX:PDN) blamed a decline in sales and prices for as fourfold increase in its net loss in the quarter ended Sept. 30.
Paladin, which reports in U.S. dollars, said it lost US$20 million or three cents a share in the quarter. That compares with a loss of $5.1 million or one cent in the 2008 quarter.
Revenue was US$38.6 million, down from $52.4 million last year.
A report to shareholders on the company´s website said the decrease was due to lower sales volumes as well as a decrease in uranium prices to US$54 from $58 a pound in 2008.
Paladin shares were down five cents at $4.05 in early afternoon trading Thursday on the Toronto Stock Exchange.
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