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Highlights

Cameco Corporation
Highlights

(Unaudited)

  Three Months Ended Nine Months Ended  
  Sept 30/03   Sept 30/02   Sept 30/03   Sept 30/02  
   
Financial (in millions)  
     Revenue $232 $158 $555  $477   
  Earnings from operations 16 8 38  44   
  Net earnings attributable to common shares 33 7 175  24   
  Cash provided by operations 79 22 169  237   
  Working capital (end of period) 545  415   
  Net debt to capitalization 8% 7%  
   
Per common share  
  Net earnings - Basic $0.59 $0.12 $3.12  $0.43   
                     - Diluted 0.59 0.12 3.08  0.43   
  Dividend 0.15 0.125 0.45  0.375   
   
  Weighted average number of paid common  
  shares outstanding (in thousands) 56,158 55,845 56,008  55,756   
   
Average uranium spot price for the period (US$/lb) $11.52 $9.80 $10.85  $9.82   
   
Sales volumes  
  Uranium (in thousands lbs U3O8) 11,358 7,685 24,296  20,527   
  Uranium conversion (tU) 4,457 3,012 11,301  10,008   
  Gold (troy ounces) 63,303 28,733 158,398  132,529   
   
Note: Currency amounts are expressed in Canadian dollars unless stated otherwise.