Goldcorp swings to $9 mln loss

NEW YORK (MarketWatch) — Goldcorp Inc. said its swung to a second-quarter loss
of $9.2 million or a penny a share, from earnings of $2.9 million, or breakeven
in the year-ago period. The latest period included a non-cash $98.4 million
foreign exchange loss on revaluation of future income tax liabilities. Adjusted
earnings fell to 12 cents a share from 14 cents a share. Analysts surveyed by
FactSet Research forecast earnings of 22 cents a share, on average. The
Vancouver-based gold mining company said it met its cash cost expectations of
$275 per ounce in the first half of the year despite industry-wide cost
pressures. Revenue rose to $632 million from $529 million.

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Technorati Tags: Breakeven, Forecast Earnings, Foreign Exchange Loss, Gold Mining Company, Goldcorp Inc, Income Tax, Marketwatch, Mln, Ounce, Quarter Loss, Revaluation, Rose, Second Quarter, Share Analysts, Swings, Tax Liabilities