Quarterly Reports - 2013 - Q3

  • strong third quarter and year-to-date results – higher revenue, gross profit and net earnings
  • higher sales volumes and average realized prices in our uranium and fuel services segments
  • reconfirmed annual sales guidance
  • at Cigar Lake began jet boring in waste rock
  • we were granted 10-year operating licences at McArthur River, Key Lake and Rabbit Lake
  • delivered our first shipments of Canadian uranium to China under the new Canada-China Nuclear Co-operation Agreement

Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the third quarter ended September 30, 2013 in accordance with International Financial Reporting Standards (IFRS).

"Our strong third quarter and year-to-date financial results reflect the strength of our contracting strategy in this lower price environment," said Tim Gitzel, president and CEO, "providing us with higher average realized prices that are well above the current uranium spot price.

"We're starting to see some of the cost benefits of the restructuring we undertook earlier in the year and, overall, we are on track to deliver on our outlook, even expecting to realize better results in some areas than previously indicated. We have adapted to the current challenging market conditions and we continue to pursue a growth plan to take advantage of the opportunity we see in the long term."