October 28, 2010 / 10:31 PM / 8 years ago

UPDATE 1-Eldorado Gold profit rises on high gold prices

* Revenue up 133 percent at $190.3 million dollars (In U.S. dollars unless noted)

TORONTO, Oct 28 (Reuters) - Eldorado Gold (ELD.TO) reported a slightly higher quarterly profit on Thursday as the Canadian miner benefited from record-high bullion prices.

The Vancouver-based company reported a third-quarter profit of $48.8 million, or 9 cents a share. That compared with $30.2 million, or 8 cents a share, in the same period last year.

Analysts, on average, had expected earnings of 10 cents a share, according to Thomson Reuters I/B/E/S.

Eldorado said revenue for the quarter ended Sept. 30 rose to $190.3 million from $81.6 million in the year-before quarter.

The company said it produced 151,297 ounces of gold at an average cost of $386 an ounce and that it was on track to produce 625,000 ounces of gold in 2010.

Shares in Eldorado closed up 2.46 percent at C$17.49 on Thursday on the Toronto Stock Exchange.

$1=$1.02 Canadian Reporting by Julie Gordon; editing by Peter Galloway

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