Great Panther Silver Limited (GPL) Misses Q3 EPS by 2c, Revenues Miss

Great Panther Silver Limited (NYSE: GPL) reported Q3 EPS of ($0.02), $0.02 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $11.69 million versus the consensus estimate of $16.99 million.

"Our revenues for the third quarter of 2018 were down compared to the same quarter last year due primarily to lower metal prices, lower production levels, and a large shipment of concentrate which could not be shipped until just after the end of quarter cut-off", stated Jim Bannantine, President and CEO. "These factors combined with higher cash costs at our Guanajuato Mine Complex in Mexico, higher corporate development costs, and the ramp up of Coricancha project costs, which we are expensing as opposed to capitalizing, accounted for a loss per share of $0.02 in the third quarter. Despite the current metal price environment, we are using our strong balance sheet to set a foundation for growth in 2019 by advancing our Coricancha project and advancing the close of the recently announced friendly acquisition of Beadell Resources Limited. These strategic initiatives represent transformational changes which will see Great Panther evolve into a leading emerging intermediate and growth-oriented Latin American focused precious metals producer."

For earnings history and earnings-related data on Great Panther Silver Limited (GPL) click here.

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