First Majestic Silver Corp. (AG) Thursday reported net earnings of $56.6 million or $0.11 per share for the second quarter, compared with net loss of $48.3 million or $0.17 per share in the same quarter a year ago, primarily driven by higher mine operating earnings and also benefitted from a non-cash deferred income tax recovery of $39.6 million.
Excluding one-time items, adjusted earnings were $18.4 million or $0.04 per share compared with adjusted loss of $20.4 million or $0.07 per share last year.
Revenue for the quarter increased 94% to $264.2 million from $136.2 million in the previous year.
Ore processed/ tonnes milled grew 49% year-on-year to 1.004 million.
The company has declared a dividend of $0.0048 per share for the second quarter, to be paid on September 15, to shareholders of record on August 29.
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