04:01 PM EST - Noranda Income Fund : reported its net profits were cut by more than half in the first quarter as net revenues fell slightly and costs rose. The fund said Monday it earned $6.3 million or 17 cents a unit for the three months ended March 31, compared with $14 million in the same quarter a year ago. Revenues less raw material purchase costs, described as net revenues, dropped to $68.4 million from $69.5 million. Noranda Income Fund
units T.NIF.UN are trading off 2 cents at $8.84.
