Uranium producer Denison Mines reported a sharply lower quarterly net loss on Thursday compared with a year earlier when its results were hit by an impairment charge.

Toronto-based Denison reported a third-quarter loss of Cdn$9.5 million, or 3 cents a share, compared with a year-ago loss of $91.3 million, or 27 cents a share.

Analysts, on average, had forecast a loss of 1 cent a share, according to Thomson Reuters.

Revenue rose 213 percent to Cdn$39.9 million, from $12.7 million a year earlier.

Denison said it sold 706,000 pounds of uranium in the quarter at an average price of US$44.22 per pound.

Uranium production for the quarter totaled 373,000 pounds, and the company said it remains on track to produce 1.6 million pounds in 2010.


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