Tuesday, March 25, 2008

Yamana Gold Inc. Releases Fourth Quarter Results

Fourth-quarter results for Yamana Gold Inc. (NYSE: AUY) were released today, for the period ending December 31.

In most areas the company had a banner year, as they increased in a number of key markers. The end results stated here don't include those of Meridian Gold or Northern Orion before they were acquired in October, 2007; neither for the complete quarter or year.

Overall sales in the fourth quarter came to $218.6 million, growing by 9 percent over the third quarter. For the year, sales reached $747.1 million, a significant 342 percent increase over 2006.

Results for the fourth quarter in net earnings also were strong, as they grew to $47.1 million, up by 57 percent from the third quarter. Net earnings for the year came in at $157.2 million, a solid 324 percent from 2006.

Before tax adjusted earnings performed even better gaining 686 percent over 2006, and finishing at $259.1 million, with after tax results coming in at $227.6 million. That equaled $0.55 a share.

Earnings for the company's mine operating earnings grew to $384.6 million, a surge of 1,000 percent over 2006.

The company declared a quarterly dividend of $0.01 a quarter per share.

See the full details of the report here.

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