August 1, 2012 / 8:34 PM / 6 years ago

New Gold profit falls on senior notes redemption charge

Aug 1 (Reuters) - Canadian miner New Gold Inc posted a lower quarterly profit as it took a one-time charge related to redemption of its senior notes.

Second-quarter earnings fell to $23.7 million, or 5 cents per share, compared with $78.6 million, or 19 cents per share, a year earlier.

Profit was impacted by a one-time charge of $32 million related to the redemption of senior secured notes, New Gold said in a statement.

On an adjusted basis the company earned 10 cents per share.

New Gold, which owns operating assets in the United States, Mexico and Australia and is developing assets in Canada and Chile, said revenue rose 3 percent to $176.1 million.

Analysts on an average were expecting the company to earn 10 cents per share, according to Thomson Reuters I/B/E/S.

Gold production rose 8 percent to 95,158 ounces.

The company continues to expect gold production of 405,000 to 445,000 ounces for the full year.

Shares of the company, which have gained 10 percent over the last three months, closed at C$10 on Wednesday on the Toronto Stock Exchange.

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