Alamos Gold Inc. (AGI.TO) Thursday said first-quarter earnings fell to $25.99 million from $29.47 million in the prior year. Earnings per share dropped to $0.20 from $0.24.
Operating revenues increased to $86.27 million from $70.26 million in the previous year.
Production totaled 55,000 ounces in the first quarter of 2013, up 36 percent from last year, and was the highest ever achieved by the company in a first quarter and second highest in its history.
The latest results included a foreign exchange loss of $3.33 million compared to such a gain of $1.2 million last year.
The company announced a share buyback program to purchase up to 10 percent of the public float of its outstanding common shares or 11.37 million shares over the next 12 months.
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