First Majestic Reports First Quarter Financial Results

https://www.firstmajestic.com/news/2017/index.php?content_id=323

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the “Company” or “First Majestic”) is pleased to announce the unaudited interim consolidated financial results of the Company for the first quarter ended March 31, 2017. The full version of the financial statements and the management discussion and analysis can be viewed on the Company’s web site at http://www.firstmajestic.com or on SEDAR at http://www.sedar.com and on EDGAR at http://www.sec.gov. All amounts are in U.S. dollars unless stated otherwise.

FIRST QUARTER 2017 HIGHLIGHTS
(compared to Fourth Quarter 2016)

  • Silver equivalent production decreased 3% to 4.3 million ounces
  • Silver production decreased 4% to 2.7 million ounces
  • All-in sustaining costs (“AISC”) decreased 5% to $12.21 per payable silver ounce
  • Revenues increased 4% to $69.1 million
  • Realized average silver price increased 3% to $17.55 per ounce
  • Mine operating earnings increased 1% to $10.0 million
  • Net earnings increased 50% to $2.7 million (Basic EPS of $0.02)
  • Adjusted earnings, excluding non-cash and non-recurring items, totaled $3.7 million (Adjusted EPS of $0.02)
  • Operating cash flows before working capital and taxes increased 14% to $26.6 million or $0.16 per share (non-GAAP)
  • Cash costs increased 3% to $6.68 per payable silver ounce (net of by-product credits)
  • Cash and cash equivalents totaled $127.6 million at the end of the quarter

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