* Adj Q4 EPS $0.57 vs Street view $0.54
* Revenue down 5 percent to $1.4 billion
Feb 14 Goldcorp Inc, Canada's
second-largest gold producer, reported a 12 percent drop in
adjusted fourth-quarter profit on Thursday as costs rose and
sales volume shrank, but earnings beat analysts' expectations.
Adjusted to remove one-time items, profit fell to $465
million, or 57 cents a share, compared with $531 million, or 66
cents, in the year-ago quarter.
Analysts had, on average, expected earnings of 54 cents a
share, according to Thomson Reuters I/B/E/S.
Net earnings rose to $504 million, or 62 cents a share,
compared with $405 million, or 50 cents a share.
Revenue fell 5 percent to $1.4 billion on lower gold sales,
due to the timing of shipments.
While gold production rose to 700,400 ounces in the quarter,
up from 687,900 ounces, sales fell to 645,100 ounces, down from
Cash costs rose 17 percent to $621 an ounce, while the
realized gold price inched up just 2 percent to $1,692 an ounce.
Goldcorp slashed its 2013 production outlook in January and
said capital costs would increase at its development projects.
The miner plans to produce some 2.55 million and 2.80
million ounces in 2013, with cash costs of $700-$750 per ounce.