Uranium Resources Earnings: Loss Made Worse

Uranium Resources, Inc.’s (NASDAQ:URRE) loss widened in the third quarter, as the company’s results were dragged down by higher costs. Uranium Resources is engaged in the business of acquiring, exploring, developing and mining uranium properties, using the in situ recovery or solution mining process.

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Uranium Resources, Inc. Earnings Cheat Sheet

Results: Loss widened to $4.2 million (3 cents per diluted share) from $2.8 million (loss of 3 cents per share) in the same quarter a year earlier.

Revenue: Remained constant at $0.0.

Actual vs. Wall St. Expectations: Uranium Resources, Inc. fell in line with the mean analyst estimate of a loss of 3 cents per share.

Quoting Management: Terence J. Cryan, Interim President and CEO noted, “The long-term opportunities for uranium remain as robust as ever with demand well outstripping supply in the latter part of the decade and we believe the extensive uranium assets that we hold in New Mexico will be a major part of the needed supply. Nonetheless, the current state has been a challenging market environment for uranium. Uranium prices have been steadily declining since June of this year, and may remain weak through 2013. We do expect that there could be a rapid surge in prices when the clarity of the market imbalance is realized.

Key Stats:

The company has now fallen in line with estimates for the past two quarters. It reported a loss of -3 cents in the second quarter.

Looking Forward: The average estimate for the fourth quarter is steady at 3 cents a share. At a profit of 10 cents per share, the average estimate for the fiscal year has risen from an expected loss of 14 cents ninety days ago.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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