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Molycorp Posts $26.6 Mln Profit In Q4

Molycorp Inc (MCP) reported fourth quarter of 2011 net income attributable to common stockholders was $26.6 million, or $0.26 per share. Adjusted EPS of $0.41 per share takes into account certain non-cash and other out-of-ordinary operational and business expansion items as compared to U.S. GAAP earnings per share.

Quarterly net revenues were $132.9 million, significantly higher than $21.7 million in the fourth quarter of 2010.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share on revenues of $134.95 million for the quarter. Analysts' estimates typically exclude special items.

The Company re-affirmed its annual production of REO equivalent products to be in a range of 8,000 metric tons to 10,000 metric tons for the full year 2012.

by RTT Staff Writer

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