Silvercorp Earns US$192.1 Million In Revenue, US$46.4 Million Net Income For FY2021

Silvercorp Metals Inc. (TSX: SVM) announced Thursday the company’s financial and operational results for its fiscal year ending March 31, 2021. The results highlighted US$192.1 million in annual revenue, a 21% increase from 2020’s revenue of US$158.8 million.

The company also recorded US$46.4 million in net earnings for the year, a 35% climb from last year’s US$34.3 million. This year’s income translates to US$0.27 earnings per share.

For the year, the company was able to sell 6.3 million silver ounces, 4,700 gold ounces, 67.1 million lead ounces, and 27.9 million zinc ounces.

Silvercorp mined 964,925 tonnes of ore for fiscal 2021, up 9% from last year’s 885,833 tonnes. The company produced 6.3 million silver ounces, 3,500 gold ounces, 68.4 million lead ounces, and 28.0 million zinc ounces for the year.

The company ended the fiscal year with US$199.1 million in cash and cash equivalents, a 40% increase from last year’s US$142.5 million. Working capital at year-end is at US$184.0 million, compared to last year’s US$130.4 million.

You may see the full details of Silvercorp’s financial and operational results for fiscal 2021 and fiscal Q4 2021 here.

Silvercorp Metals Inc. last traded at $7.43 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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