May 08, 2012 17:30 ET
Kinross Reports 2012 First Quarter Results
Adjusted Net Earnings (4),(5) Increase 16%
Board Approves Dvoinoye Feasibility Study
http://www.marketwire.com/press-release/kinross-reports-2012-first-quarter-results-tsx-k-1654553.htm
TORONTO, ONTARIO--(Marketwire - May 8, 2012) -
For more information, please see Kinross' 2012 first quarter Financial Statements and MD&A at www.kinross.com.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) today announced its results for the first quarter ended March 31, 2012.
(This news release contains forward-looking information that is subject to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located on page seven of this news release. All dollar amounts in this news release are expressed in U.S. dollars, unless otherwise noted.)
Financial and operating highlights:
•Production(1): 604,247 gold equivalent ounces, a 6% decrease over Q1 2011.
•Revenue: $1,036.6 million, an 11% increase over Q1 2011.
•Production cost of sales(2): $742 per gold equivalent ounce, compared with $545 in Q1 2011.
•Attributable margin(3): $902 per ounce sold, a 15% increase over Q1 2011.
•Adjusted operating cash flow(4): $339.7 million, a 14% decrease over Q1 2011. Adjusted operating cash flow per share was $0.30, compared with $0.35 in Q1 2011.
•Adjusted net earnings(4)(5): $203.1 million, a 16% increase over Q1 2011. Adjusted net earnings per share were $0.18, compared with $0.15 in Q1 2011.
•Reported net earnings(5): $105.7 million, or $0.09 per share, compared with $250.1 million, or $0.22 per share, for Q1 2011.
•Outlook: The Company expects to be within its 2012 forecast guidance for production (2.6 - 2.8 million attributable gold equivalent ounces) and production cost of sales ($670 - 715 per gold equivalent ounce).
Kinross Reports 2012 First Quarter Results
Adjusted Net Earnings (4),(5) Increase 16%
Board Approves Dvoinoye Feasibility Study
http://www.marketwire.com/press-release/kinross-reports-2012-first-quarter-results-tsx-k-1654553.htm
TORONTO, ONTARIO--(Marketwire - May 8, 2012) -
For more information, please see Kinross' 2012 first quarter Financial Statements and MD&A at www.kinross.com.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) today announced its results for the first quarter ended March 31, 2012.
(This news release contains forward-looking information that is subject to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located on page seven of this news release. All dollar amounts in this news release are expressed in U.S. dollars, unless otherwise noted.)
Financial and operating highlights:
•Production(1): 604,247 gold equivalent ounces, a 6% decrease over Q1 2011.
•Revenue: $1,036.6 million, an 11% increase over Q1 2011.
•Production cost of sales(2): $742 per gold equivalent ounce, compared with $545 in Q1 2011.
•Attributable margin(3): $902 per ounce sold, a 15% increase over Q1 2011.
•Adjusted operating cash flow(4): $339.7 million, a 14% decrease over Q1 2011. Adjusted operating cash flow per share was $0.30, compared with $0.35 in Q1 2011.
•Adjusted net earnings(4)(5): $203.1 million, a 16% increase over Q1 2011. Adjusted net earnings per share were $0.18, compared with $0.15 in Q1 2011.
•Reported net earnings(5): $105.7 million, or $0.09 per share, compared with $250.1 million, or $0.22 per share, for Q1 2011.
•Outlook: The Company expects to be within its 2012 forecast guidance for production (2.6 - 2.8 million attributable gold equivalent ounces) and production cost of sales ($670 - 715 per gold equivalent ounce).