Cameco Annual Report 2011

Powerful - Financial Highlights

We demonstrated our financial strength again this year, and achieved a number of performance records. We finished the year with $1.2 billion in cash and short-term investments, while our total debt amounted to $1 billion.

December 31
($ millions except where indicated)
2011 2010 change
* Adjusted net earnings, a non-IFRS measure, should be considered supplemental in nature and not a substitute for related information prepared in accordance with IFRS. Other companies may calculate this measure differently. A reconciliation of adjusted net earnings to net earnings is available on page 34 of Cameco's February 29, 2012 Annual Management's Discussion and Analysis.
Revenue $2,384 $2,124 12%
Gross profit 776 771 1%
Net earnings 450 516 (13)%
$ per common share (diluted) 1.14 1.31 (13)%
Adjusted net earnings (non-IFRS)* 509 497 2%
$ per common share (adjusted and diluted) 1.29 1.26 2%
Cash provided by operations (after working capital changes) 732 521 40%
Average realized uranium prices $US/lb 49.17 43.63 13%
  $Cdn/lb 49.18 45.81 7%
Production (Cameco's Share)      
Uranium production (million lbs U3O8) 22.4 22.8 (2)%
Financial Ratios      
Current ratio (current assets/current liabilities) 3.7:1 4.3:1  
Return on common shareholders' equity 9.40% 11.30%