The purchase of uranium oxide to fulfil sales after suspension of processing operations at Ranger mine, for over six months due to a uranium spill in December 2013, and weakening of the Australian dollar have significantly affected the earnings, the company said.
The company has purchased 843 tons of uranium oxide for $67m, to meet committed sales.
Uranium oxide revenues totaled $379m from 3,148 tons, compared to $356m in 2013.
Exploration and evaluation spend, including Ranger 3 Deeps exploration decline, prefeasibility study and other exploration totaled $83m.
Drop in production contributed to decrease in non-cash costs associated with depreciation, which is majority based on the units of production method.
ERA said: "ERA expects that the uranium market will remain challenging in the near term, however, the long term outlook remains encouraging for established producers."
For 2015, the company expects uranium production of up to 2,200 tons with sales of uranium oxide to be broadly in line with production.
