August 8, 2011 / 10:08 PM / 6 years ago

UPDATE 1-Thompson Creek Metals Q2 profit falls

* Q2 EPS $0.68 vs $0.87 year-ago

* Q2 rev rises 28.6 pct to $190.9 mln

* Q2 molybdenum output 10 mln pounds (Follows alerts)

Aug 8 (Reuters) - Thompson Creek Metals’ quarterly profit fell 8 percent, hurt by higher costs, and the miner forecast lower production at its Thompson Creek mine in Idaho in the second half of the year.

The company said the mine, which produced 17 million pounds of molybdenum in the first half of the year, is expected to produce 5-7 million pounds of molybdenum in the second half.

Toronto-based Thompson Creek’s April-June earnings fell to $116.8 million, or 68 cents a share, from $126.5 million, or 87 cents a share, a year ago.

Revenue of the company, which has operations in Idaho, Pennsylvania and British Columbia, rose 29 percent to $190.9 million.

Molybdenum production rose 43 percent to 10.0 million pounds.

Total costs and expenses rose 24 percent to $121.8 million.

The company’s shares closed at C$6.94 on Monday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Don Sebastian)

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