Rio Narcea Reports Record Year-End 2006 Results-Net Income of $70.7 Million, Up $112.9 Million Over 2005 Wednesday March 28, 4:22 pm ET
763% Increase in Operating Cash Flow to Record $77.4 million
TORONTO, ONTARIO--(MARKET WIRE)--Mar 28, 2007 -- (All amounts are reported in U.S. dollars unless otherwise indicated)
Rio Narcea Gold Mines, Ltd. ("Rio Narcea" or "the Company") (Toronto:RNG.TO - News)(AMEX:RNO - News) today announced its results for the fourth quarter and year ending December 31, 2006.
By Sarina Penn TheStreet.com Staff Reporter 3/28/2007 6:33 PM EDT
Rio Narcea Gold Mines (RNO) climbed nearly 9% after the closing bell Wednesday as the Spain-based company swung to a 2006 profit of $70.7 million, or 43 cents a share, compared with a 27-cent per-share loss in 2005. Sales more than doubled to $225.7 million, buoyed mostly by soaring nickel-operations revenue. Shares were up 34 cents to $4.19 in recent after-hours action.
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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Would have posted this earlier had I known the thread was here, I don't get over this way too much. Buyout is for $5.00C, equal to about $4.39 US that's why it's flat.
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