Hecla's earnings shine

COEUR d'ALENE - Hecla Mining Company reported a 30 percent cash flow increase from last year for its third quarter earnings in 2010, the company announced this week.

The company brought in $41.9 million in net cash from operating activities in the third quarter, increasing its 2010 total to $115.3 million.

Those earnings best last year's numbers of $32.3 million for the third quarter of 2009, and $51.9 million for the same periods in 2009.

A pair of mining areas, Greens Creek and Lucky Friday, boosted record production to help the growth, said Phillips S. Baker Jr., Hecla president and CEO.

"Our cash position, strong operating performance and district size properties in the U.S. and Mexico, position us well to fund development and capital projects, as well as take advantage of other potential opportunities that may arise," he said.

Overall sales in the third quarter were $115.8 million compared to $95.2 million in the same period the prior year.

The adjusted net income of $29.6 million in the third quarter of 2010 was also up. It came in at $22.5 million in the same period in 2009.

After preferred stock dividends, the company reported $16.4 million in income applicable to common shareholders, or 6 cents per share, compared to $22.5 million or 10 cents per share in 2009.