Centerra posts lower profit as gold prices fall

Tue May 6, 2014 6:17pm EDT
 
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May 6 (Reuters) - Centerra Gold Inc reported a steep drop in first-quarter profit, hurt by lower gold prices and a 23 percent decline in sales.

The company's net earnings fell to $2.1 million, or 1 cent per share, compared with earnings of $51.4 million, or 22 cents, a year earlier.

Revenue fell to $148.2 million from $192.3 million a year earlier. (Reporting by Allison Martell in Toronto and Anannya Pramanick in Bangalore; Editing by Saumyadeb Chakrabarty)