Uranium miner Cameco reports 85 per cent drop in second quarter profit

SASKATOON _ Uranium miner Cameco (TSX:CCO) reports an 85 per cent drop in second-quarter net earnings to $8 million, or 2 cents per share compared to $55 million, or 14 cents per share in the same period last year. Revenue came in at $391 million for the quarter, down from $426 million year over year. The company cites lower earnings from its uranium business based on lower sales volumes, lower realized prices and higher costs.