Fortuna Silver Mines Inc. (FSM)
Q2 2012 Earnings Call
August 9, 2012 12:00 PM ET
Carlos Baca – IR
Trevor Turnbull – Scotia CapitalHeiko Ihle – Euro Pacific CapitalGeorge Shea – Cicada InvestmentsNick Campbell – Canaccord GenuityMarco LoCascio – Equinox PartnersPresentation
» OM Group's CEO Discusses Q2 2012 Results - Earnings Call Transcript
» Kronos Worldwide's CEO Discusses Q2 2012 Results - Earnings Call Transcript
Good morning ladies and gentlemen, I would like to welcome you all Fortuna Silver Mines and to our second quarter financial and operation results call. We apologize for the late dissemination of our press release yesterday. Today we are hosting the call from Lima in Vancouver. Thank you again everyone for joining us. I would now like to turn the call over the President and CEO of the company, Mr. Jorge Ganoza.Jorge GanozaGood morning. I am joined on the call today by Luis Ganoza, our CFO. We initiate a conference and with assistance of Luis, I will be giving a summary and analysis of our operations and financial results for the quarter. Once concluded, we will address your questions.During the second quarter, Fortuna achieved net income of 3.85 million or $0.03 per share. Net income is down 38% in the comparable period. This is accounting for a one-time write-off of 3.86 million of exploration capital related to termination of the Mario Property option agreement. Adjusted net income was 6.9 million, up 37% compared to 5 million for Q2, 2011. Cash generated by operating activities changes in working capital totaled 15.7 million. It is up 76% over the prior year period.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV