Goldcorp swings to $9 mln loss
By Daniel at 31 July, 2008, 8:53 am
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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