First Majestic Silver profit rises on higher output

Tue Feb 26, 2013 7:39am EST

Feb 26 (Reuters) - Canada's First Majestic Silver Corp , which backed out of a bidding war for Orko Silver Corp last week, said fourth-quarter profit rose 5 percent on higher production.

Net income rose to $22.4 million, or 19 cents per basic share, from $21.3 million, or 20 cents per basic share, a year earlier.

Revenue rose 17 percent to $71 million.