Talison Lithium (TSX:TLH) reported its results for the third quarter of 2012 fiscal year.
As quoted in the press release, Q3 highlights include:
- Record revenue and EBITDA 2 of A$37m and A$12m, an increase of 27% and 90% y/y respectively
- Net profit of A$8.2m resulting in basic EPS of 7.6 cents per share, a 112% and 100% y/y increase respectively
- Construction of the Stage 2 Expansion of the Greenbushes Lithium Operations (Expansion) remains on schedule and budget with commissioning expected to be completed by the end of June 2012
- Cash and cash equivalents increased to A$85.1m at March 31, 2012 notwithstanding continued capital expenditure during the quarter for the Expansion
- Outlook remains positive, with early indications that global supply may tighten in FY2013
CEO and Managing Director, Peter Oliver, commented:
Talison had an outstanding third quarter, with records achieved in sales volume, revenue and EBITDA. This exceptional performance, in conjunction with Talison’s strong cash reserves, positions the Company well for the future development of the lithium carbonate plant. Adding to our record quarter, I am pleased to report that the Expansion continues on-time and on budget as it nears completion. The increased capacity provided by the expansion will enable Talison to respond rapidly to changing conditions in the lithium market.