Americas Silver Appoints Manuel Rivera to Board of Directors; Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017
The company reported consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenues of $17.2 million compared with revenues of $12.8 million a year ago. Net income was $0.9 million or 0.02 cents per share compared with a net loss of $2.1 million or 0.07 cents per share in the second quarter of 2016.
Cash flow generated from operating activities in the first six months of 2017 of $6.3 million, including approximately $3.2 million in second quarter of 2017, compared to cash generated from operating activities of approximately $1.6 million for the first 6 months of 2016, including $0.7 million in the second quarter of 2016. The improvement in net income and cash from operating activities before non-cash working capital items is primarily attributable to higher net revenue on concentrate sales, lower corporate general and administrative expenses, and lower interest and financing expense, partially offset by higher cost of sales, and higher depletion and amortization.