Avino Silver & Gold Mines (ASM.TO, ASM), was at last look up 2.8% in after-hours New York trading after the company on Tuesday reported a sizeable increase in its fourth-quarter profit on higher revenues, improved prices and increased production.

For the quarter, the Mexico silver miner company said it earned US$5.1 million, or US$0.03 per share, up 804%, and adjusted earnings of US$10 million, or US$0.07, an increase of 405%.

The company said revenue rose 95% to US$24.4 million, driven by increased production and higher realized silver and gold prices in the quarter. The Avino Mine delivered cash provided by operating activities of US$15.6 million, up over 2,000%, as well as mine operating cash flows before taxes of US$11.9 million, up 230%,

Also cash costs per silver equivalent payable ounce sold was US$13.88 and all-in sustaining cash costs per silver equivalent payable ounce sold was US$18.62, down 8% and 14%, respectively.

"In the fourth quarter, we delivered record financial performance driven by higher metal prices and increased production from our Avino Mine," said Nathan Harte, Chief Financial Officer. "With records set in revenues and cash flow generation, our operating margins further strengthened our debt-free balance sheet to record highs. On the cost side, our operating costs decreased and further increased margins, allowing record free-cash flow generation. Our focus continues to be on growth and delivering additional value to our shareholders through disciplined and organic growth as outlined in our 5-year plan. With over $27 million in cash to close out the year, we are well-positioned for the future."

Avino shares were last seen up US$$0.04 to US$1.45 after hours. They closed up $0.16 to $2.04 on the Toronto Stock Exchange.