June 13, 2011 / 9:12 PM / 8 years ago

UPDATE 1-Timminco Q1 loss slims on higher silicon metal prices

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June 13 (Reuters) - Timminco Ltd’s first-quarter loss narrowed as higher selling prices for silicon metal and improved shipments of solar grade silicon boosted margins at the Canadian silicon metal producer.

The January-March loss was C$8.1 million ($8.3 million), or 4 Canadian cents a share, compared with a loss of C$10.6 million, or 7 Canadian cents a share, a year ago.

The Toronto, Ontario-based company, which produces silicon metals for the chemical, metal and solar industries, posted a 22 percent drop in revenue at C$23.9 million.

Shares of the company closed at 43.5 Canadian cents on Monday on the Toronto Stock Exchange.

$1 = 0.980 Canadian Dollars Reporting by Gowri Jayakumar in Bangalore; Editing by Maju Samuel

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