Friday, March 12, 2010

Goldcorp (TSE:G) Fourth Quarter Net Profits Down

Goldcorp Net Profits

Although Goldcorp (TSE:G) enjoyed a strong upward move in its adjusted profits for the latest quarter, as gold, silver and copper prices surged in value, they did get hammered on the net profits side as liabilities for taxes will increase based on the fall in value of the U.S. dollar from the year before.

Adjusted profits increased to $182.7 million, over double the $84.4 million from last year at the same time. This equaled 25 cents a share, while analysts had been looking for 24 cents a share.

Net profits plunged to $66.7 million or nine cents a share, a huge drop from $958.1 million last year, or $1.31 a share. Again, that's due to the need to revaluate the tax liabilities based on the collapse of the U.S. dollar over the last year.

Overall revenue grew to $778.3 million, a 28 percent rise.

Goldcorp Net Profits

No comments: