Revenue during the quarter surged 70.95 percent to $179.39 million from $104.94 million in the previous year period. Gross margin for the quarter period stood at positive 32.71 percent as compared to a negative 2.44 percent for the previous year period. Operating margin for the quarter period stood at positive 21.32 percent as compared to a negative 20.20 percent for the previous year period.

Operating income for the quarter was $38.24 million, compared with an operating loss of $21.20 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $75.23 million compared with $17.79 million in the prior year period. At the same time, adjusted EBITDA margin improved 2498 basis points in the quarter to 41.94 percent from 16.96 percent in the last year period.

"Heclas quarterly production growth, record sales, cash provided by operating activities of $87 million and free cash flow of $28 million reflect how our commitment to invest when prices were lower allows us to now reap the benefits of having more production at higher prices," said Phillips S. Baker, Jr., Heclas president and chief executive officer. "This quarter was just another step towards establishing new 125-year records in 2016. Our free cash flow and strengthening balance sheet allow us to immediately invest in more innovation, exploration and high-return projects. And with the acquisition of our second large undeveloped silver project, Montanore, we expect to generate additional value in the future."

The company has spent $153.33 million cash to meet investing activities during the nine month period as against cash outgo of $96.88 million in the last year period. It has incurred net capital expenditure of $119.89 million on net basis during the nine month period, up 26.04 percent or $24.77 million from year ago period.

The company has spent $7.78 million cash to carry out financing activities during the nine month period as against cash outgo of $13.26 million in the last year period.

Cash and cash equivalents stood at $167.84 million as on Sep. 30, 2016, down 3.79 percent or $6.61 million from $174.45 million on Sep. 30, 2015.

Working capital increases
Hecla Mining Co has recorded an increase in the working capital over the last year. It stood at $174.85 million as at Sep. 30, 2016, up 5.62 percent or $9.31 million from $165.55 million on Sep. 30, 2015. Current ratio was at 2.29 as on Sep. 30, 2016, down from 2.32 on Sep. 30, 2015.

Days sales outstanding went down to 21 days for the quarter compared with 31 days for the same period last year.

Days inventory outstanding has decreased to 18 days for the quarter compared with 41 days for the previous year period. At the same time, days payable outstanding was almost stable at 39 days for the quarter, when compared with the previous year period.