New Gold (TSE:NGD) Revenue Over Double

New Gold (TSE:NGD) (AMEX:NGD) revenue was up for the quarter over last year, and earnings met analysts' expectations, as gold sales increased.

Revenue for the latest quarer was more than double last year at the same time, reaching $101.6 million, as earnings came to $17.2 million, or 4 cents a share, exactly what analysts had looked for.

Last year the generated earnings of $12.1 million, or 6 cents a share.

Once the company gets better control of their costs, they could turn a tidy profit and generate significant shareholder value.

The company sales increased to 80,020 ounces, a 44 percent gain.

Guidance from the company has expectations of reaching gold production of 330,000 ounces for 2010, at a cost of $445 to $465 an ounce.