Quarterly Reports - 2007 - Q1

Cameco Corporation today reported that the first quarter 2007 net earnings were down from 2006, primarily due to the following impacts from these business segments:

  • uranium deliveries were lower at the discretion of customers,
  • electricity output was lower due to a planned outage, and
  • gold production decreased as a result of lower throughput and grade.

"Since Cameco's quarterly results vary significantly, comparing today's results to a remarkably strong first quarter last year is a poor indicator of future performance," said Jerry Grandey, Cameco's president and CEO. "We expect our consolidated annual revenue to grow by nearly 50% in 2007."