July 25, 2012 / 9:27 PM / in 5 years

UPDATE 1-Agnico-Eagle profit drops as costs rise

July 25 (Reuters) - Canada’s Agnico-Eagle Mines Ltd said on Wednesday its second-quarter net income fell 37 percent due to higher costs.

The mid-tier gold miner earned $43.3 million, or 25 cents a share in the quarter ended June 30. That compared with $68.8 million, or 40 cents, a year earlier.

Excluding one-time items, earnings came in at $68.9 million, or 40 cents a share.

Revenue rose to $459.6 million from $433.7 million.

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