First Majestic Reports Second Quarter Financial Results

https://www.firstmajestic.com/news/index.php?content_id=330

VANCOUVER, British Columbia, Aug. 03, 2017 (GLOBE NEWSWIRE) — FIRST MAJESTIC SILVER CORP. (NYSE:AG) (TSX:FR) (the “Company” or “First Majestic”) is pleased to announce the unaudited interim consolidated financial results of the Company for the second quarter ended June 30, 2017. The full version of the financial statements and the management discussion and analysis can be viewed on the Company’s web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise.

SECOND QUARTER 2017 HIGHLIGHTS
(compared to First Quarter 2017)

  • Silver equivalent production decreased 9% to 3.9 million ounces
  • Silver production decreased 16% to 2.3 million ounces
  • All-in sustaining costs (“AISC”) increased 19% to $14.58 per payable silver ounce
  • Revenues decreased 13% to $60.1 million
  • Realized average silver price decreased 2% to $17.17 per ounce
  • Mine operating earnings decreased 86% to $1.4 million
  • Cash flow per share was $0.11 per share (non-GAAP), a decrease of 32% from the prior quarter
  • Cash costs increased 11% to $7.41 per payable silver ounce (net of by-product credits)
  • Net earnings of $1.4 million (Basic EPS of $0.01)
  • Adjusted net loss, excluding non-cash and non-recurring items, totaled $3.6 million (Adjusted loss per share of $0.02)
  • Strong treasury with cash and cash equivalents totaling $126.9 million at the end of the quarter

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