Earnings Statement
Consolidated
Statements of Earnings
(Unaudited)
(In Thousands)
| |
|
Three Months Ended |
|
| |
|
March 31/01 |
March 31/00 |
|
 |
|
| Revenue from |
|
|
|
|
|
| |
Products and services |
$70,294 |
|
$142,427 |
|
|
|
|
| Expenses |
|
|
|
|
|
| |
Products and services
sold |
37,989 |
|
85,610 |
|
|
| |
Depreciation, depletion
and reclamation |
16,989 |
|
24,550 |
|
|
| |
Administration |
8,617 |
|
7,639 |
|
|
| |
Exploration |
3,980 |
|
4,050 |
|
|
| |
Research and development |
514 |
|
716 |
|
|
| |
Interest and other
|
(1,061) |
|
(1,127) |
|
|
|
|
| |
|
67,028 |
|
121,438 |
|
|
|
|
| Earnings from operations |
3,266 |
|
20,989 |
|
|
| |
|
|
|
|
|
|
| |
Other income |
297 |
|
1,093 |
|
|
|
|
| Earnings before income taxes |
3,563 |
|
22,082 |
|
|
| |
|
|
|
|
|
|
| |
Income tax expense (recovery) |
|
|
|
|
|
| |
|
- current |
1,294 |
|
1,300 |
|
|
| |
|
- deferred |
(856) |
|
9,218 |
|
|
|
|
| Net earnings |
3,125 |
|
11,564 |
|
|
| |
|
|
|
|
|
|
| Preferred securities charges, net of tax |
2,357 |
|
2,172 |
|
|
|
|
| Net earnings attributable to common shares |
$768 |
|
$9,392 |
|
|
|
|
| Net earnings per common share |
$0.01 |
|
$0.17 |
|
|
|
|
|
Consolidated Statements of Retained Earnings
(Unaudited)
(In Thousands)
| |
Three Months Ended |
|
| |
March 31/01 |
March 31/00 |
|
|
|
| Retained earnings at beginning of period |
$437,328 |
|
$552,154 |
|
|
| Net earnings |
3,125 |
|
11,564 |
|
|
| Dividends on common shares |
(6,941) |
|
(7,081) |
|
|
| Preferred securities charges, net of tax |
(2,357) |
|
(2,172) |
|
|
|
|
| Retained earnings at end of period |
$431,155 |
|
$554,465 |
|
|
|
|
| |
|
|
|
|
|
See accompanying notes to consolidated
financial statements |
