Chevron expects first-quarter profit to slip

April 9 Wed Apr 9, 2014 5:12pm EDT

April 9 (Reuters) - Chevron Corp, the second-largest oil company in the United States, said on Wednesday it expected first-quarter income to slip from the prior quarter because of high currency conversion costs and one-time charges in its mining unit.

Excluding the charges, Chevron said results should be "comparable" with the fourth quarter, when it reported net income of $4.93 billion, or $2.57 per share.

Chevron operates a molybdenum mine in New Mexico.

Its shares fell slightly to $118.91 in after-hours trading. (Reporting by Ernest Scheyder. Editing by Andre Grenon)