Agoracom: Small Cap Investment - AuRico Gold Inc. - Gammon profit beats expectations

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Gammon profit beats expectations

posted on Mar 23, 2011 08:39AM

TORONTO

RTGAM

TORONTO - Gammon Gold Inc. reports its fourth-quarter profit was $23.5-million (U.S.), beating analyst estimates by a wide margin.

The profit amounted to 17 cents per share, up from 10 cents per share or $13.6-million in the fourth quarter of 2009.

Analysts had been expecting 12 cents per share, according to figures compiled by Thomson Reuters.

Gammon's revenue for the three months ended Dec. 31 was $71-million, up from $68.2-million in the fourth quarter of 2009.

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