Eldorado profit beats market estimates
Fri Jul 31, 8:06 AM
ca.news.finance.yahoo.com
(Reuters) - Eldorado Gold Corp reported a second-quarter profit that beat market estimates, helped by higher production, and reiterated its production outlook for the full year.
Eldorado reported a net income of $25.9 million, or 7 cents a share, compared with $25.2 million, or 7 cents a share, a year ago.
Revenue was reported at $80.54 million, down from $82.53 million in the second quarter of 2008.
Analysts on average were expecting earnings of 6 cents a share on revenue of $78.5 million, according to Reuters Estimates.
The company confirmed its total production target of about 330,000 ounces for the full year.
Eldorado, which recently bought a 20 percent stake in Sino Gold Mining Ltd from Gold Fields , said cash flow from operations fell about 7 percent to $36.7 million.
Shares of the Vancouver based-company closed at C$10.23 Thursday on the Toronto Stock Exchange.
(Reporting by Amit Kumar in Bangalore; Editing by Ratul Ray Chaudhuri) |
