Eldorado Gold Narrowly Misses on Q4 EPS

Shares of Eldorado Gold (NYSE: EGO  ) 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.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2849465, ~/Articles/ArticleHandler.aspx, 9/22/2014 10:15:16 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Apple's next smart device (warning, it may shock you

Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early-in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!


Advertisement