Earnings Statement
Consolidated Statements of Earnings
(Unaudited)
(In Thousands)
| |
|
|
Three Months Ended |
| |
|
|
March 31/98 |
|
March 31/97 |
|
| Revenue |
|
|
|
|
|
|
| |
Products and services sold |
|
$131,876 |
|
|
$114,204 |
|
|
| Expenses |
|
|
|
|
|
|
| |
Products and services sold |
|
69,255 |
|
|
54,767 |
|
| |
Depreciation, depletion and reclamation |
|
25,684 |
|
|
19,852 |
|
| |
Administration |
|
6,821 |
|
|
7,718 |
|
| |
Exploration |
|
5,994 |
|
|
6,087 |
|
| |
Research and development |
|
566 |
|
|
715 |
|
| |
Interest |
|
(2,174 |
) |
|
(1,897 |
) |
|
| |
|
|
106,146 |
|
|
87,242 |
|
|
| Earnings from operations |
|
25,730 |
|
|
26,962 |
|
| |
Other expenses (income) |
|
(23 |
) |
|
-- |
|
|
| Earnings before income taxes |
|
25,753 |
|
|
26,962 |
|
| |
Income tax expense (recovery) |
|
|
|
|
|
|
| |
0000000000- current |
|
(79 |
) |
|
633 |
|
| |
0000000000- deferred |
|
8,028 |
|
|
11,919 |
|
|
| Net earnings |
|
17,804 |
|
|
14,410 |
|
| Retained earnings at beginning of period |
|
494,608 |
|
|
440,206 |
|
| Dividends |
|
(7,193 |
) |
|
(6,664 |
) |
|
| Retained earnings at end of period |
|
$505,219 |
|
|
$447,952 |
|
|
| Note: See notes accompanying
the consolidated financial statements. |
