Iamgold Corp. (IMG.TO, IAG) Tuesday reported first-quarter net earnings attributable to equity holders of $10.9 million or $0.03 per share, compared to $119.2 million or $0.32 per share in the first quarter last year.
Adjusted earnings for the quarter were $57.7 million or $0.15 per share, down from $91.6 million or $0.24 per share in the same period last year.
Revenues for the quarter dropped to 14 percent to $305.3 million from $354.1 million last year. Sales dropped mainly due to lower production from processing lower grades at Essakane and timing differences between production and sales.
Analysts polled by Thomson Reuters estimated earnings of $0.14 per share on revenues of $381.28 million for the quarter. Analysts' estimates typically exclude special items,
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