July 26, 2012 / 12:30 PM / 5 years ago

UPDATE 1-Goldcorp profit falls on production woes

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July 26 (Reuters) - Goldcorp Inc said Thursday that second-quarter adjusted earnings fell 20 percent as problems at its Penasquito mine in Mexico and Red Lake mine in Canada weighed on gold production in the quarter.

Canada's No. 2 gold producer earned $268 million, or 26 cents a share, in the quarter, down from $489 million, or 52 cents a share, in the year-earlier period.

Removing one-time items, profit was $332 million, or 41 cents a share, compared with $413 million, or 52 cents a share, a year earlier.

Revenue fell to $1.1 billion in the quarter from $1.3 billion.

Earlier this month, Goldcorp lowered its 2012 gold production outlook to between 2.35 million and 2.45 million ounces in 2012 from 2.6 million ounces.

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