UPDATE 1-Agnico-Eagle profit drops as costs rise

July 25 Wed Jul 25, 2012 5:22pm EDT

July 25 (Reuters) - Canada's Agnico-Eagle Mines Ltd said on Wednesday its second-quarter net income fell 37 percent due to higher costs.

The mid-tier gold miner earned $43.3 million, or 25 cents a share in the quarter ended June 30. That compared with $68.8 million, or 40 cents, a year earlier.

Excluding one-time items, earnings came in at $68.9 million, or 40 cents a share.

Revenue rose to $459.6 million from $433.7 million.