July 28, 2010 / 9:15 PM / 7 years ago

UPDATE 1-Agnico-Eagle profit jumps on higher gold output

* Q2 EPS $0.63 vs $0.01 year ago

* Revenue more than doubles to $347.5 mln (In U.S. dollars unless noted)

TORONTO, July 28 (Reuters) - Agnico-Eagle Mines (AEM.TO) said on Wednesday its second-quarter profit rose sharply, as gold production more than doubled and it benefited from higher gold, zinc, silver and copper prices.

The Canadian gold miner earned $100.4 million, or 63 cents a share, in the quarter ended June 30. The latest results include a non-cash foreign currency translation gain and a one-time tax recovery that were slightly offset by non-cash stock-based compensation expenses.

That compared with year-before earnings of $1.2 million, or 1 cent a share, when profit was hit by a non-cash currency translation charge and stock option expenses.

Revenue more than doubled to $347.5 million, as the company brought a series of new mines into production over the last year.

$1=$1.04 Canadian Reporting by Euan Rocha and Julie Gordon; editing by Rob Wilson

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