Iamgold profit falls on lower metal prices, lower sales volumes

Wed Feb 20, 2013 7:00pm EST
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Feb 20 (Reuters) - Iamgold Corp reported a 37 percent decrease in quarterly net profit on Wednesday due to lower metal prices and lower sales volumes.

Net earnings from continuing operations attributable to equity holders fell to $84.6 million, or 22 cents per share, in the fourth quarter from $133.6 million, or 36 cents per share, a year earlier.

Adjusted to remove one-time items, earnings were $90.3 million, or 24 cents a share. Analysts, on average, had expected earnings of 25 cents a share, according to Thomson Reuters I/B/E/S.

Revenue fell 3 percent to $468.4 million.