Turquoise Hill Turns To Profit In Q4

(RTTNews) - Turquoise Hill Resources Ltd.(TRQ), an international mining company, Wednesday reported profit for the fourth quarter compared with loss last year, backed by significantly higher revenues, driven by sales from Oyu Tolgoi Copper-Gold mine.

The net income attributable to parent amounted to $138.4 million compared with a loss of $145.0 million last year. Earnings per share were $0.11 versus last year's loss per share of $0.11.

Analyst polled by Thomson-Reuters had expected the company to incur a loss of $0.09 per share for the quarter. Analyst's estimate typically exclude one-time items.

With a significant contribution of $51.6 million from the sale of 26,400 tonnes of copper-gold concentrates, revenue for the quarter soared to $84.0 million from $1.3 million during the year-ago period.