INCOME STATEMENT HIGHLIGHTS
| Income Statement Highlights as of May 31 |
 Download (Excel) |
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| (thousand of US$ dollars, except for EPS and weighted average number of shares) |
2008 |
2007 |
2006 |
2005 |
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| Net Sales |
79,061 |
63,056 |
51,206 |
30,563 |
| Operating expenses |
38,947 |
31,928 |
22,014 |
20,588 |
| Amortization and depletion |
15,724 |
8,361 |
8,742 |
4,015 |
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| Total operating expenses |
54,671 |
40,289 |
30,756 |
24,603 |
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| Sub-total |
24,390 |
22,767 |
20,450 |
5,960 |
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| Other expenses (income) |
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| Stock based compensation expense |
792 |
975 |
1,453 |
756 |
| Fair value adjustment for derivatives |
- |
(2,317) |
2,138 |
180 |
| Exploration expenses written off |
11,103 |
2,129 |
- |
- |
| General and administrative expense |
4,605 |
4,347 |
3,483 |
3,405 |
| Interest expense, debt accretion and financing fees |
371 |
314 |
411 |
555 |
| Net profit interest |
- |
- |
(253) |
253 |
| Interest earned and other income |
(923) |
(510) |
(136) |
(107) |
| Foreign exchange |
(238) |
225 |
128 |
18 |
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15,710 |
5,163 |
7,224 |
5,060 |
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| Income before taxes |
8,680 |
17,604 |
13,226 |
900 |
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| Current income taxes provision |
3,870 |
3,582 |
2,711 |
1,177 |
| Future income taxes loss (recovery) |
(2,988) |
(532) |
(68) |
(1,787) |
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| Net income for the period |
7,798 |
14,554 |
10,583 |
1,510 |
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| Retained earnings, beginning of period |
22,986 |
10,775 |
192 |
(1,318) |
| Dividend distribution |
(2,742) |
(2,343) |
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- |
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| Retained earnings, end of period |
28,042 |
22,986 |
10,775 |
192 |
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| Basic earnings per share |
$0.16 |
$0.30 |
$0.23 |
$0.03 |
| Diluted earnings per share |
$0.16 |
$0.30 |
$0.22 |
$0.03 |
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| Basic weighted average no. of shares |
48,911,779 |
48,258,892 |
46,661,234 |
43,844,434 |
| Diluted weighted average no. of shares |
48,924,272 |
48,668,269 |
48,548,859 |
49,014,017 |
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