OTTAWA (dpa-AFX) - Silver Wheaton Corp. (SLW.TO, SLW) reported second-quarter net earnings of $63.5 million or $0.18 per share, compared to $71.1 million or $0.20 per share, prior year. Cash flow from operations were $102.5 million or $0.29 per share, compared to $125.3 million or $0.35 per share. The company noted that its earnings and cash flow continued to be impacted by lower gold and silver prices.
On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.20 for the quarter. Analysts' estimates typically exclude special items.
Revenue was $148.6 million on silver equivalent sales of 7.5 million ounces (5.2 million ounces of silver and 34,800 ounces of gold). This represents an 11% decrease from the $166.9 million of revenue generated in the second quarter of 2013, due primarily to a 14% decrease in the average realized silver equivalent price, partially offset by a 4% increase in the number of silver equivalent ounces sold. Analysts expected revenue of $169.50 million for the quarter.
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