Hecla Mining Company [NYSE:HL] today reported net income of $12.1 million, or 10 cents per common share, on revenue of $46 million in the first quarter of 2008, compared to $8 million, or 7 cents per common share, on revenue of $54.6 million in the first quarter of 2007.

First quarter production was approximately 1.3 million ounces of silver and 21,940 ounces of gold, compared to 1.6 million ounces of silver and 36,330 ounces of gold in the first quarter of 2007. Hecla’s average silver cash cost per ounce averaged a negative $1.42 per ounce of silver after by-product credits, a 27% decrease from Q1 2007. The total cash cost per ounce of gold averaged $642 per ounce compared to $475 per ounce last year.

Earlier this month, Hecla Mining’s Isidora gold mine was halted due to worker unrest. Read RI’s recent coverage.