Denison records first-quarter profit

Uranium and oil producer Denison Mines (DEN-T) earned $7.6 million (or 2 cents per share) on revenue of $20.4 million for the quarter ended March 1, compared with $3.2 million (1 cents per share) on $18.9 million for the same period in 1996.

The company’s mining division contributed 27% of the revenue and 14% of earnings for the recent quarter. The remainder came from the company’s oil division.

For 1996, Denison earned $50.1 million (or 16 cents per share) on revenue of $88.9 million, up from $16 million (5 cents per share) on $64.1 million in the previous year.

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