Randgold Resources Q3 Profit Declines On Lower Gold Price - Quick Facts

(RTTNews) - Gold miner Randgold Resources Limited (GOLD, RRS.L) reported Thursday that its third-quarter profit before income tax declined to $79.633 million from $126.640 million last year.

Profit attributable to equity shareholders plunged to $58.008 million from last year's $81.336 million. Basic earnings per share fell 28 percent to $0.63 from $0.88.

Total revenues declined to $283.234 million from $332.309 million a year ago.

Gold sales on a consolidated basis increased to $376.796 million from $355.218 million last year.

In the quarter, group production increased to 299,320 ounces from 233,677 ounces. Group sales went up to 295,018 ounces from 262,850 ounces a year ago.

Average gold price received, meanwhile, dropped to $1,277 per ounce from last year's $1,327 ounce.

Chief Executive D M Bristow said, "With production standing at 860 366 ounces at the end of September, we're well on our way to passing the million-ounce landmark before the end of this year. .. It's also a good feeling to be back in the black after repaying our revolving credit facility."