Gold production up, net income down

Although gold production was up 25.5% over last year, net income for Coeur d’Alene Mines (AMEX) dropped. The company reported net earnings for the year ended Dec. 31 of US$9.4 million (or US94 cents per share) on revenues of US$77.4 million, compared with net income of US$15.4 million on revenues of US$85.2 million in the previous year.

Gold production in 1989 was 96,325 oz. versus the 76,763 oz. in 1988 and silver production totalled 5,529,078 oz., off from last year’s record production of 5,885,896 oz.

The company notes that gold production accounted for 55% of the company’s revenues. Coeur d’Alene Mines (AMEX)* Year ended Dec. 31 1989 1988 Revenue (000s) $77,429 $85,246 Net earnings (000s) 9,405 15,373 Net earnings

(per share) 0.94 1.45 *US dollars.004