U.S. Silver Corporation announced record financial results on Monday.

The $30.8 million second-quarter revenue more than doubled from last year's amount and increased 61 percent from the first quarter of this year.

Net earnings were $6.5 million, compared to $600,000 from last year and increased 55 percent from the first quarter of this year.

"When silver prices are $35 per ounce, we're all a lot smarter and that's enjoyable," said U.S. Silver President and CEO Tom Parker.

Shares were 64 cents Monday, up a penny from Friday.

Parker said he's disappointed in share price, but it's a trend among silver companies and in his view, the share price doesn't affect the price of the mineral itself.

"I think time will cure that," he said.

The company produced 648,322 ounces of silver in the quarter, totaling 1,142,685 this year. It sold 755,000 ounces.

U.S. Silver owns the Galena, Coeur, Dayrock and Caladay mines, among other properties in the Silver Valley.

"In short, we had a great quarter," Parker said.

Parker credits the financial results to a combination of solid production, record sales volumes and continued high silver prices.

"Our cost of mining increased this quarter as a result of significantly higher sales volumes and increased profit sharing payments, but we also undertook higher than normal infrastructure repairs that had been deferred ..." Parker said. "Recent operating and financial results have continued to strengthen the company to fund capital projects that expand our operations and advance exploration programs."

The company will spend about $6 million on capital projects this year and around $5 million next year.

A lot of infrastructure needs repairing, Parker said, so U.S. Silver is spending money underground to help reduce cash costs.