Noranda Income Fund's revenue falls 7.3%
Jul 25, 2012 | 03:18 PM
| Daniel Fitzgerald
Tags
Noranda Income Fund,
Canadian Electrolytic Zinc,
CEZ,
Michael Boone,
Eva Carissimi,
Daniel Fitzgerald
NEW YORK — Noranda Income Fund, the majority owner of Canadian Electrolytic Zinc Ltd. (CEZ), saw revenue slip 7.3 percent during the second quarter. And while higher zinc premiums buoyed the company’s pre-tax earnings, that wasn’t enough prevent a dive in the company’s bottom-line results.
Earnings before income taxes stood at Canadian $11.9 million ($11.8 million) for the three months ended June 30, up 15 percent from C$10.4 million in the same 2011 quarter, which the company said was "mainly due to higher zinc sales volumes and zinc premiums, and lower finance costs."....
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