May 5, 2011 / 10:00 PM / in 7 years

UPDATE 1-Eldorado profit gains on high gold price

(In U.S. dollars unless noted)

TORONTO, May 5 (Reuters) - Eldorado Gold (ELD.TO) reported a slight rise in first-quarter profit on Thursday, as higher bullion prices made up for lower production.

The gold miner said consolidated earnings increased to $52.5 million, or 10 cents a share. That compared with $50.5 million, or 9 cents a share, in the same period of 2010.

Revenue rose to $218.1 million, up 20 percent from $181.5 million in the first quarter of 2010.

Production was 148,577 ounces compared with 164,928 ounces in the same period of 2010.

Eldorado operates gold mines in Turkey, China and Brazil. (Reporting by Julie Gordon; editing by Rob Wilson)

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