UPDATE 1-Inmet Mining posts profit on improved prices

Tue Feb 9, 2010 9:21am EST

* Q4 EPS C$1.60 Vs year-ago loss of C$0.67 a share

* Q4 sales rise 108 pct on stronger metal prices

TORONTO Feb 9 (Reuters) - Inmet Mining Corp IMN.TO reported a quarterly profit on Tuesday, rebounding from a year-earlier loss on the back of lower costs and rebounding metals prices.

The Toronto-headquartered base metals miner earned C$89.8 million, or C$1.60 a share, in the fourth quarter.

That compared with a year-before loss of C$32.5 million, or 67 Canadian cents a share, when results were hurt by plunging metals prices and a writedown.

Quarterly sales rose 108 percent to C$290.6 million, as copper and zinc prices rebounded sharply. (Reporting by Euan Rocha, editing by Gerald E. McCormick)

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