Uranium producer Paladin Energy Ltd has dramatically narrowed its full year loss to $US52.9 million ($A59.7 million), from the previous corresponding 12 months, on record sales volumes.
The loss for the year to June 30 compares with a $US480.2 million loss in 2008/09.
RBS Morgans resources analyst Lyndon Fagan said the latest result was a little below his expectations.
Paladin posted record uranium oxide production of 4.32 million pounds, a 60 per cent increase from the prior year.
The company had previously said it planned to expand its uranium production from a targeted seven million pounds in 2011 to 14 million pounds by calendar 2015.
In its report to the stock exchange on Friday, Palandin said it achieved record sales volumes for fiscal 2010, 84 per cent higher than the previous year.
Sales revenue for the year increased 78 per cent to $204.3 million, but the cost of sales more than doubled from $53.0 million to $131.6 million.
"During the year the company continued its strategy of placing more uranium into the term market," Paladin told the stock exchange.
The company made a loss per share of eight US cents, compared to 78 US cents in the 2008/09.
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