HispanicBusiness

ENDEAVOUR SILVER CORP.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

(expressed in thousands of US dollars, except for shares and per share amounts)

---------------------------------------------------------------------------                                                      Three Months Ended                                                   March 31,       March 31,                                                       2013            2012---------------------------------------------------------------------------Revenue                                       $      69,873  $       49,046Cost of sales:  Direct production costs                            36,887          16,611  Royalties                                             450             461  Share-based compensation                               75              59  Depreciation and depletion                         12,074           8,496  Write down of inventory to net realizable           1,495               -   value---------------------------------------------------------------------------                                                     50,981          25,627----------------------------------------------------------------------------Mine operating earnings                              18,892          23,419Expenses:  Exploration                                         4,190           1,812  General and administrative                          3,130           2,737---------------------------------------------------------------------------                                                      7,320           4,549Operating earnings                                   11,572          18,870Mark-to-market loss/(gain) on derivative             (1,452)           (143) liabilitiesMark-to-market loss/(gain) on contingent             (2,491)              - liabilityFinance costs                                           247               5Other income (expense):  Foreign exchange                                    1,400           4,630  Investment and other income                         1,978           1,529---------------------------------------------------------------------------                                                      3,378           6,159Earnings before income taxes                         18,646          25,167Current income tax expense                            1,836           4,769Deferred income tax expense                           2,453             623---------------------------------------------------------------------------                                                      4,289           5,392---------------------------------------------------------------------------Net earnings for the period                          14,357          19,775---------------------------------------------------------------------------Other comprehensive income, net of tax  Net change in fair value of available for          (2,839)            313   sale investments------------------------------------------------------------------------------------------------------------------------------------------------------Comprehensive income (loss) for the period           11,518          20,088---------------------------------------------------------------------------Basic earnings (loss) per share based on      $        0.14  $         0.23 net earnings---------------------------------------------------------------------------Diluted earnings (loss) per share based on    $        0.13  $         0.22 net earnings---------------------------------------------------------------------------Basic weighted average number of shares          99,660,016      87,728,391 outstanding---------------------------------------------------------------------------Diluted weighted average number of shares       101,507,642      90,926,807 outstanding---------------------------------------------------------------------------