November 7, 2011 / 11:05 PM / 7 years ago

UPDATE 1-Thompson Creek adj profit down on lower output

(In U.S. dollars)

Nov 7 (Reuters) - Molybdenum miner Thompson Creek Metals TCM.TO reported a lower adjusted profit on Monday, as production fell in the third quarter and a non-cash foreign exchange loss hit earnings.

Net income in the quarter ended Sept. 30. was $45.6 million or 27 cents a share, up from from a year-ago profit of $31.1 million, or 22 cents a share. Net income was boosted by a non-cash, unrealized gain on common stock warrants.

Excluding one-time items, earnings in the quarter were $3.6 million or 2 cents a share, compared with $51.6 million, or 37 cents a basic share.

Thompson Creek, which owns the Thompson Creek mine in Idaho and the Endako mine in British Columbia, was hit by a $23.9 million foreign exchange loss, as the U.S. dollar strengthened against the Canadian dollar.

Revenue in the quarter fell 4 percent to $154.8 million on lower sales volumes. Production dropped to 3.7 million pounds from 8 million pounds in the year earlier quarter. (Reporting by Julie Gordon)

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