Newmont Mining
The Denver-based gold producer said Thursday it swung to a loss in the fourth quarter because of a $1.1 billion write-down and lower gold sales.
For the quarter ending Dec. 31, Newmont posted a net loss of $289 million, or 63 cents a share, compared with net income of $223 million, or 49 cents a share, in the year-ago quarter.
The results included a number of one-time items, including a $1.1 billion noncash charge because of reserve-replacement results and new accounting-rule requirements, and a pretax gain of $900 million related to an asset sale. Revenue dipped to $1.41 billion from $1.42 billion.
Analysts surveyed by Thom son Financial on average forecast a profit of 37 cents per share on revenue of $1.47 billion.
Barrick Gold
The world’s largest producer of the precious metal reported a 28 percent gain in fourth-quarter profit, citing surging bullion prices.
Net income climbed to $537 million, or 61 cents a share, from $418 million, or 48 cents, a year earlier, Toronto-based Barrick said Thursday in a statement. Profit before one-time items was 57 cents, topping the 56-cent average estimate of 14 analysts surveyed by Bloomberg.
Red Robin Gourmet Burgers
The Greenwood Village-based casual-dining restaurant chain said fourth-quarter profit rose 14 percent as sales advanced.
Net income increased to $10.1 million, or 60 cents a share, from $8.82 million, or 53 cents a share, a year earlier. Sales rose 12 percent to $183.8 million. Revenue at stores open at least a year increased 2.7 percent, Red Robin said.
J.C. Penney
The third-largest U.S. department-store chain said fourth-quarter profit fell less than analysts estimated after the company reduced labor costs and reined in price cuts after the holiday shopping season.
Net income dropped 9.9 percent in the quarter through Feb. 2 to $430 million, or $1.93 a share, 9 percent higher than the average estimate of analysts. Profit in the current quarter will be as little as 1 cent below analysts’ estimates, the retailer said Thursday in a statement.
