Silver Standard Resources (SSRI) Misses Q4 EPS by 5c
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Silver Standard Resources (NASDAQ: SSRI) reported Q4 EPS of $0.08, $0.05 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $33.74 million versus the consensus estimate of $43.18 million.
Fourth Quarter and Full-Year 2014 Highlights:
(All figures are in U.S. dollars unless otherwise noted)
- Acquired the Marigold mine: Purchased the Marigold mine for $268 million on April 4, 2014, generated $38.8 million of income from mine operations in the first nine months of ownership.
- Delivered lower cost profile
- Reported cash costs of $838 per payable ounce of gold sold at the Marigold mine for the period from April to December 2014, at the low end of our cash costs guidance range. Fourth quarter cash costs of $665 per payable ounce of gold sold due to strong production in the period.
- Reported 2014 cash costs of $12.08 per payable ounce of silver sold at the Pirquitas mine, in line with the lower end of our 2014 cost guidance. Fourth quarter cash costs at Pirquitas totaled $11.76 per payable ounce of silver sold.
- Achieved record production
- Produced 129,615 ounces of gold at Marigold from April to December 2014, exceeding our 2014 production guidance which had been previously increased to between 110,000 and 120,000 ounces of gold. Produced 67,113 ounces of gold in the fourth quarter, a quarterly record for the Marigold mine since it commenced production in 1988 and 66% higher than the previous quarter.
- Produced record 8.7 million ounces of silver and 30.0 million pounds of zinc in 2014. Achieved production guidance for the third consecutive year demonstrating consistent delivery to plan.
For earnings history and earnings-related data on Silver Standard Resources (SSRI) click here.
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