OTTAWA (dpa-AFX) - Kinross Gold Corp. (KGC, K.TO) reported that its first-quarter net earnings attributable to common shareholders was $105.7 million, or $0.09 per share, compared to $250.1 million, or $0.22 per share in the year ago quarter.
Adjusted net earnings for the quarter were $203.1 million, or $0.18 per share, up from $175.3 million, or $0.15 per share in the same quarter last year.
Revenue from metal sales rose to $1.04 billion in the first quarter of 2012 from $937.0 million in the comparable quarter last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share on revenues of $1.08 billion for the quarter. Analysts' estimates typically exclude special items.
As previously announced on January 16, 2012, Kinross said that it expects to produce about 2.6-2.8 million gold equivalent ounces in 2012. Production cost of sales per gold equivalent ounce is expected to be in the range of $670-715 for 2012.
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