Pan American Silver Corp. (PAAS, PAA.TO) reported net income for the third quarter of US$17.38 million or US$0.20 per basic share, compared to US$6.40 million or US$0.08 per share in the year-ago quarter.
Mine operating earnings for the quarter surged to US$34.71 million from US$15.47 million a year earlier.
Sales for the quarter was US$118.6 million, up 49% from last year's quarter, mainly due to greater quantities of silver and gold sold.
Analysts polled by Thomson Reuters expected the company to earn US$0.21 per share on revenue of US$115.76 million for the quarter.
Further, Pan American Silver now expects that its consolidated cash costs for the full year in 2009 will be below the previously announced guidance of approximately $6.00 per ounce of silver.
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