March 20, 2012 / 12:12 PM / in 6 years

UPDATE 1-Endeavour Silver posts loss as it holds back inventory

March 20 (Reuters) - Endeavour Silver Corp reported a fourth-quarter loss on an adjusted basis as the Canadian miner chose to hold on to its stock until metal prices recovered.

The company, which owns the Guanacevi and Guanajuato mines in Mexico, sold most of the metal held in inventory as prices improved in the first quarter.

October-December net loss narrowed to $1.8 million, from $14.3 million a year ago.

On an adjusted basis, it reported a loss of $1.5 million, or 3 cents a share, compared with a profit of $6.8 million, or 9 cents a share, a year ago.

Revenue fell 39 percent to $17.5 million.

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