Yamana Gold profit falls on lower gold price, costs

Tue Apr 30, 2013 5:22pm EDT
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TORONTO, April 30 (Reuters) - Canadian miner Yamana Gold Inc reported a 40 percent drop in first-quarter profit on Tuesday as lower gold prices and higher costs outweighed a boost in gold production.

Net income was $102.1 million, or 14 cents a share, in the quarter ended March 31. That compared with $170 million, or 23 cents a share, in the year-earlier period.

Revenue fell 4 percent to $534.9 million.