Lower metal prices, higher costs hit Sherritt's quarterly net income

Nov 02, 2005 | 10:32 AM |

Sherritt International Corp., Toronto, blamed weaker nickel and cobalt prices, higher administrative costs and higher operating costs for a 34.4-percent decline in net income to Canadian $23.1 million ($19.6 million) during the third quarter.

SHERRITT INTERNATIONAL CORP.(in thousands except per share) 200520043rd qtr. ended Sept. 30Net sales$253,400$259,600Net income$23,100$35,200Per share0.130.209 months ended Sept. 30Net sales$828,800$824,100Net income$114,600$135,600Per share0.640.76In Canadian dollars.The weaker prices and increased costs were partially offset by higher revenue from oil....

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