February 28, 2011 / 11:59 AM / 7 years ago

UPDATE 1-Quadra FNX Mining profit boosted by higher copper prices

(Follows alerts)

FEB 28 (Reuters) - Canadian miner Quadra FNX Mining Ltd reported a 25 percent rise in fourth-quarter profit, helped by record high copper prices and an increase in production from the combined Quadra and FNX asset base.

Quadra acquired FNX in an all-stock deal worth C$1.6 billion last year.

The company’s net income was $57.9 million, or 30 cents a share, compared with $46.5 million, or 46 cents a share, a year ago. On an adjusted basis, it earned 55 cents per basic share.

Fourth-quarter revenue jumped 88 percent to $331.9 million.

The company had 190.4 million outstanding shares on Dec. 31, 2010. As of Feb. 25, 2011, it had 190.6 million outstanding shares. (Reporting by Bhaswati Mukhopadhyay in Bangalore)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below