Pan American Silver reports loss as prices fall

Thu Aug 15, 2013 8:18am EDT
 
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Aug 15 (Reuters) - Pan American Silver Corp reported a loss on Thursday, as weak precious metals prices weighed on its operating results and it took a non-cash impairment charge.

Net loss for the second quarter was $187.1 million, or $1.23 a share, compared with a profit of $37.0 million, or 24 cents a share, a year earlier.

Excluding a $185.2 million impairment charge and other items, Pan American reported an adjusted loss of $9.9 million, or 7 cents a share, compared with earnings of $8.2 million, or 5 cents a share. Revenue fell 12 percent to $175.6 million.