Turquoise Hill Q4 Loss More Than Doubles

By Eric Volkman – Mar 25, 2013 at 8:29PM

NYSE: TRQ

Turquoise Hill Resources

The Asia-focused mining company sees much more red ink in its latest quarter, but manages to narrow its annual loss.

Turquoise Hill (TRQ) results for the company’s Q4 and 2012 have been released. For the quarter, revenue was $41.6 million, down from the $51.0 million in the same period the previous year. Attributable net loss deepened significantly to $182.4 million ($0.18 per diluted share) from Q4 2011's red figure of $85.8 million ($0.04).

For the entirety of 2012, top line was $133.8 million. Turquoise Hill managed to narrow its net loss during the year, with 2012's bottom-line shortfall coming in at $434.6 million ($0.51 per diluted share) against 2011's $570.4 million ($0.76).

Beginning in June of last year, Turquoise Hill was guided by an interim CEO, Ines Scotland. This past January, she was replaced by Bob Vassie, who also serves as the company's managing director.

Fool contributor Eric Volkman has no position in Turquoise Hill, and neither does The Motley Fool. 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.