03:58 PM EST - IAMGOLD Corp. : reported that its first-quarter net earnings were $58.8 million U.S. or $0.16 U.S. per share, compared to $52.5 million U.S. or $0.17 U.S. per share in the first quarter of 2009. Adjusted net earnings rose to $51.3 million U.S. or $0.14 U.S. per share from adjusted net earnings of $31.5 million U.S. or $0.10 U.S. per share in the year ago quarter. The increase in adjusted net earnings is mainly due to higher revenues partially offset by higher mining costs. Revenues were $240.1 million U.S., a 27% increase from $188.6 million U.S. in the first quarter of 2009, mainly due to a higher gold price, and more ounces of gold and kilograms of niobium sold. Three analysts had consensus revenue estimate of $218.72 million U.S. for the quarter. IAMGOLD Corp.
shares T.IMG are trading down $0.39 at $18.46.
