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Highlights

Financial results for 2004 have been restated. The non-cash adjustments primarily affect net earnings and earnings per share. For a full description of the changes see Cameco's fourth quarter results.

Cameco Corporation
Highlights

(Unaudited)

(Restated)(Restated)
 Three Months EndedNine Months Ended
 Sept 30/04   Sept 30/03   Sept 30/04   Sept 30/03
  
Financial (in millions)  
   Revenue$313$232 $688 $555 
 Earnings from operations3213 81 28 
 Net earnings5233 156 175 
 Cash provided by operations14077 169 171 
 Working capital (end of period)594 545 
 Net debt to capitalization14%23%
  
Per common share 
 Net earnings - Basic$0.90$0.60 $2.74 $3.12 
  - Diluted0.870.59 2.65 3.08 
 Dividend0.150.15 0.45 0.45 
 
  Weighted average number of paid common shares outstanding (in thousands)57,25156,158 57,005 56,008 
  
Average uranium spot price for the period (US$/lb)$19.29$11.52 $17.94 $10.85 
  
Sales volumes 
 Uranium (in thousands lbs U3O8)9,55311,358 21,658 24,296 
 Uranium conversion (tU)4,3754,457 11,542 11,301 
 Gold (troy ounces)217,59563,303 414,755 158,398 
 Electricity (TWh)2.81.3 8.3 4.6 
  
Note: Currency amounts are expressed in Canadian dollars unless stated otherwise.