Amax Inc. today reported third quarter net earnings of $132.5 million(U.S.), equivalent to $1.61 per primary common share. Third quarter 1987 net earnings of $176.2 million, equivalent to $1.81 per primary common share, included a $126 million pretax gain on the sale of Amax Gold Inc. common stock. 1988 third quarter operating earnings were $199.5 million, an increase of 101% compared with $99.4 million in the 1987 third quarter.
For the 9-month period, Amax had record net earnings of $452.7 million ($5.03 per primary common share), a gain of 36% over the $332 million ($3.86 per primary common share) earned in the same period last year. Operating earnings for the nine months totalled $510.4 million versus $244.3 million a year ago, an increase of 109%.
Amax Inc. is a worldwide supplier of metals and energy as well as a manufacturer and distributor of metals-related products and chemicals.
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