February 17, 2010 / 1:43 PM / 8 years ago

UPDATE 1-Strong gold price boosts Iamgold results

* Q4 net loss $0.13/shr vs loss of $0.33/shr, a yr ago

(In U.S. dollars, unless noted)

TORONTO, Feb 17 (Reuters) - Iamgold (IMG.TO) said on Thursday its fourth-quarter operating earnings more than doubled, driven primarily by a strong gold prices.

The Toronto-based mid-tier gold miner reported adjusted earnings of $41.4 million, or 11 cents a share, in the quarter ended Dec. 31. That compared with a profit of $16.4 million, or 6 cents a share, in the year-before period.

However, Iamgold’s latest quarter and year-ago quarter were impacted by impairment charges, which led to net losses in both periods.

The company said it posted a quarterly net loss of $47.4 million, or 13 cents a share, compared with a year-ago net loss of $96.4 million, or 33 cents a share.

Revenue rose 27 percent to $265.3 million.

The company currently operates eight mines located throughout the South American country of Suriname, West Africa and the Canadian province of Quebec, and expects its Essakane mine in Burkina Faso to start producing this year. (Reporting by Euan Rocha, editing by Dave Zimmerman)

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