Net earnings of $20.9 million or 26c a share were reported by Teck Corporation (TSE) for the quarter ended June 30, 1988, up from $9.5 million or 11c a share in the comparable period a year earlier. Revenues were $60 million, compared with $52 million.
The company attributed the increase in earnings primarily to the David Bell Mine at Hemlo, where production for the three months amounted to 60,500 ounces (149,300 ounces for the nine month period), and to increased equity earnings in Cominco and Lornex as a result of higher zinc and copper prices.
Cash flow for the quarter increased by $3 million from $21 million (30 cents a share) a year ago to $24 million (32 cents a share).
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