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Rabbit Lake in northern Saskatchewan. Cameco is one of the world's largest uranium producers.

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Uranium producer Cameco Corp. says its first-quarter included double-digit increases to both revenue and profit – rebounding from the weak results it had a year earlier and beating analyst estimates.

The Saskatchewan-based company's net income was up 45 per cent from a year earlier, rising to $132-million or 33 cents per share before adjustments while revenue increased 22 per cent to $563-million.

On an adjusted basis, Cameco's profit was $124-million or 31 cents per share, 3 cents a share above expectations.

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A consensus estimate compiled by Thomson Reuters called for 28 cents per share of adjusted income and $552.8-million of revenue.

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