Eldorado Gold Narrowly Misses on Q4 EPS
Shares of Eldorado Gold weren't quite good as gold following the release of the company's Q4 and fiscal 2013 results. For the quarter, revenue was $232 million, well below the $350 million in the same period the previous year. Bottom line swung to a loss of $688 million ($0.96 per diluted share), from Q4 2012's profit of $115 million ($0.16).
The key contributor to the most recent quarter's loss was an $808 million impairment charge on the carrying value of two of the company's mines in China. Analysts had been expecting revenue of $250 million, and a per-share profit of $0.05.
For the entirety of fiscal 2013, Eldorado Gold posted revenues of $1.12 billion, against the previous year's tally of $1.15 billion. As with the quarterly results, annual attributable net plunged into the red, at $653 million ($0.91 per diluted share), from 2012's profit of $305 million ($0.44).
In terms of operations, the firm saw record production for the full year at 721,201 ounces. The average realized price per ounce for sold gold was lower than the previous year, however, dropping to $1,407 from 2012's $1,674.
Following the announcement of the results, the company's stock slumped by 1.9%, or $0.14, to $7.16 in late afternoon trading on Friday.
The article Eldorado Gold Narrowly Misses on Q4 EPS originally appeared on Fool.com.Eric Volkman has no position in Eldorado Gold. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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