08:48 AM EDT, 05/09/2025 (MT Newswires) -- Neo Performance Materials ( NOPMF ) on Friday reported an increase in its first quarter earnings and confirmed a quarterly dividend of C$0.10 per common share.

The company reported adjusted net income for the three months ended March 31 of US$3.6 million, or US$0.09 earnings per share, compared with US$0.4 million or US$0.01 per share, a year earlier. It beat a consensus estimate compiled by FactSet of US$0.03.

Revenue slightly decreased to US$121.6 million compared with US$122.1 million, a year-ago, but beat the consensus estimate compiled by FactSet of US$120.5 million.

The quarterly dividend will be paid on June 27 to shareholders of record on June 17.

"Looking ahead, at a time when our products are more in demand than ever, Neo is uniquely positioned to address critical structural gaps in the global supply chain, particularly the absence of permanent magnet manufacturing and heavy rare earth separation capabilities outside of China," said Neo Performance Materials ( NOPMF ) Chief Executive Rahim Suleman.

Shares of the company closed down 0.3% to $11.84 on Thursday on the Toronto Stock Exchange.