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Article: United States: Buenaventura Posts 1st-Quarter Profit on Lower Costs.(Financial report)
- Article from:
- TendersInfo
- Article date:
- May 2, 2009
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Byline: sanjayV03
Cia. de Minas Buenaventura SA, the biggest Peruvian precious-metals producer, posted a first- quarter profit of $100.3 million as falling costs offset slumping metals prices.
Net income of 39 cents a share compares with a loss of $63 million, or 25 cents, a year earlier, Lima-based Buenaventura said today in an e-mailed statement. Per-share profit fell short of the 45.5-cent average estimate by four analysts surveyed by Bloomberg.
The company sold gold at an average of $911 an ounce in the quarter, down 2 percent from a year earlier, contributing to a 22 percent decrease in total revenue to $177 million. The drop was offset by ...