NEM58.43, +1.52, +2.7% ) today announced first quarter income from continuing operations of $213 million ($0.48 per share) compared with $85 million ($0.19 per share) for the first quarter of 2005. First quarter net income from continuing operations was positively impacted by a $48 million ($0.11 per share) tax adjustment. First quarter highlights included: * Consolidated gold sales of 1.8 million ounces (1.4 million equity ounces) at costs applicable to sales of $275 per ounce and an average realized gold price of $555 per ounce; * Net cash provided by continuing operations of $240 million, after a $164 million increase in working capital; and * Cash and cash equivalents, marketable securities and short-term investments of $1.5 billion.
Wayne W. Murdy, Chairman and Chief Executive Officer, said, "Our first quarter's results reflect strong margin and earnings per share growth from a higher realized gold price of $555 per ounce and our continued focus on cost containment. With the current gold price in excess of $600 per ounce, we expect to deliver expanding gold margins for our shareholders."
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)