Argonaut Gold (AR.TO) today announced that profits for the quarter more than doubled to $9.1 million, or 9 cents per share, from $4.1 million, or 7 cents per share, in the same period last year. Revenue increased by 74 percent to $34.6 million, and the company sold 20,468 ounces of gold during the quarter, versus 14,414 ounces in the same period last year. Production increased by 8 percent to 19,698 ounces in the quarter.
Shares are higher by about 3.9 percent.
Commodity supply chain company MFC Industrial (MIL) announced that net earnings for 2011 were $12.2 million for 2011. Excluding the effects of one-time and non-cash discretionary expenses amounting to $21.9 million, net earnings were $34.1 million. Revenues were $481.7 million for the year ended December 31, 2011, compared to $76.5 million for the same period in 2010.
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