06:31 AM EST, 02/24/2017 (MT Newswires) -- Silver Standard Resources (SSO.TO, SSRI) has released its Q4, FY 2016 results which showed the company swung to a profit.

For the full year, SSO posted adjusted net earnings of US$100.3 million or $0.97 per share. Full-year revenue was US$490.9 million. In 2015, SSO posted an adjusted net loss of US$8.7 million on revenue of US$375 million.

For Q4 2016, SSO's adjusted net earnings were US$30.8 million or $0.26 per share on US$127 million in revenue. In Q4 2015, SSO's had an adjusted net loss of US$7.2 million or $0.09 per share and revenue of US$90.5 million.

The company posted record annual production of 393,325 gold equivalent ounces at cash costs of US$653 and AISC of US$923 per payable gold equivalent ounce sold. Fourth quarter production was 110,130 gold equivalent ounces at cash costs of US$625 and AISC of US$845 per payable gold equivalent ounce sold.

Looking forward through 2017, on a consolidated basis at mid-point of guidance, SSO expects to produce 355,000 gold equivalent ounces at gold equivalent cash costs of US$735 per ounce. Cash costs and capital guidance are based on $55 per barrel oil price and 1.30 Canadian to U.S. dollar exchange rate. Gold equivalent figures are based on US$1,250 per ounce gold price and US$17.50 per ounce silver price.

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