UPDATE 1-Agnico-Eagle hits record gold output in 2012, costs weigh
* Adj Q4 EPS $0.41 v Street view $0.44
* Revenue up 4 percent at $466.8 million
* Company produces record 1 million oz of gold in 2012
* Eyes 20 percent production growth in 2013-2015
TORONTO, Feb 13 (Reuters) - Canada's Agnico-Eagle Mines Ltd produced a record 1 million ounces of gold in 2012, but fourth quarter adjusted earnings fell short of analysts' expectations as higher costs squeezed margins.
The gold miner reported a profit of $82.8 million, or 48 cents a share, in the quarter ended Dec. 31. That compared with a loss of $601.4 million, or $3.53 a share, in the year-ago period, when it wrote down part of the value of its Meadowbank mine in the Canadian Arctic.
Excluding one-time items, profit was $69.9 million, or 41 cents a share in the quarter, below the average analyst estimate of 44 cents a share, according to Thomson Reuters I/B/E/S.
Revenue rose 4 percent to $466.8 million, on higher gold output and a stronger gold price.
Agnico produced 236,535 ounces in the quarter, up slightly from 227,792 ounces in the year-ago quarter. The realized gold price rose 3 percent to $1,684 an ounce, while cash costs climbed 15 percent to $769 per ounce. Continued...