(Figures in U.S. dollars, unless noted)
NEW YORK, Feb 23 (Reuters) - Yamana Gold YRI.TO said on Wednesday its profit rose sharply, as record gold prices in the fourth-quarter helped boost results.
Net income in the quarter rose to $160.4 million, or 22 cents a share, compared with a year-ago profit of $36.2 million, or 5 cents a share.
Excluding one-time items, earnings were $173.3 million, or 23 cents a share.
Quarterly revenue rose more than 34 percent to $535 million.
The Canadian miner, which has assets spread across Chile, Argentina, Brazil and Mexico, said production in the quarter was 286,682 gold equivalent ounces, down from 289,456 ounces, a year earlier.
The mid-tier gold miner is in the process of developing the Mercedes gold-silver project in Mexico, which is due to start production in 2012. It is also developing the Pilar gold project in Brazil that is expected to come online in 2013. ($1= $0.99 Canadian) (Reporting by Michael Erman;editing by Sofina Mirza-Reid)