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Topics News & Markets

Inmet Mining Q4 earnings drop 67 per cent; sales up 5% at $241 million

By The Canadian Press | February 09, 2012

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TORONTO - Inmet Mining Corp. (TSX:IMN) reported a big drop in fourth-quarter net earnings compared with a year ago Thursday, partly as a result of the sale of a non-core investment last year that resulted in a $50.5-million gain.

Inmet also recognized after-tax foreign exchange losses of $9 million the most recent quarter in posting earnings attributable to shareholders of $48.1 million or 69 cents per share for the three months ended Dec. 31.

That compared with net earnings of almost $147 million or $2.57 per share in the same year-earlier period.

Sales revenue rose to $241 million from $230 million.

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