Goldcorp reports loss on impairment, tax-related charges

Thu Feb 13, 2014 8:49am EST
 
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Feb 13 (Reuters) - Goldcorp Inc reported a quarterly loss of more than $1 billion on Thursday due to impairment charges, deferred tax charges and other one-time items.

The Vancouver-based miner said its net loss in the fourth quarter was $1.1 billion, or $1.34 a share. That compared with a year-earlier profit of $504 million, or 47 cents a share.

Excluding all the one-time tax and impairment charges, along with reclamation and closure costs for Goldcorp's inactive mine sites, the company reported a profit of $74 million, or 9 cents a share, down from $465 million, or 57 cents a share, a year earlier, when precious metal prices were significantly higher.