Ceramic Industry News

Hecla Releases Fourth Quarter And Year-End Results

March 13, 2001
/ Print / Reprints /
ShareMore
/ Text Size+
Hecla Mining Co. recorded a fourth quarter 2000 loss of $12 million, or 18 cents a share, before noncash write-downs and environmental accruals. An asset write-down in the amount of $31.2 million for the Lucky Friday mine and environmental accruals of $15.2 million brought the loss applicable to common shareholders in the fourth quarter of 2000 to $58.3 million, or 87 cents a share. For the full year 2000, the total loss applicable to common shareholders was $92 million, or $1.38 a share, including asset write-downs, accruals and preferred dividends. Noncash charges for the year totaled $56.7 million, which includes the Lucky Friday asset write-down in the fourth quarter, asset write-downs previously announced for the Rosebud and Noche Buena gold properties and environmental accruals for the Bunker Hill Superfund site and the Grouse Creek mine.

Hecla recently announced it had entered into an agreement to sell its wholly owned subsidiaries, Kentucky-Tennessee Clay Co. and K- T Feldspar, to Imerys USA, Inc., for a price of $62.5 million, subject to customary post-closing adjustments. The transaction is expected to close in early April, subject to regulatory approval. "The proceeds from the sale of K-T Clay will be sufficient to pay off a $55 million bank debt we have coming due in April," said Arthur Brown, Hecla's chairman and chief executive officer. "Paying off the debt will enhance our balance sheet and give us some cash on hand."

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

June 2014 Issue Highlights

Our June 2014 issue is now available!

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI September 2014 cover

2014 September

You won't want to miss the CI Top 10, traditionally our most popular article of the year!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px