Phelps Dodge Q4 net earnings surge to 6.50 usd per share vs 0.60 usd |
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Published
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Mon, 29 Jan 2007 14:16
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LONDON (AFX) - Phelps Dodge Corp reported a surge in fourth-quarter earnings, aided by one-off gains in the 2006 period and charges in the 2005 period, but also reflecting a rise in sales.Fourth quarter earnings per share rose to 6.50 usd from 0.60 usd in the year-earlier period, while sales topped 3.2 bln usd, from 2.3 bln last time.Full year EPS rose to 14.83 usd per share from 7.69 usd last time.Net income included after-tax, net special gains of 1.79 usd per share for the 2006 fourth quarter, and 1.69 usd per share for the full year.Steven Whisler, chairman and chief executive of Phelps Dodge, said: 'We continue to benefit from strong prices for copper and molybdenum, each of which reflects solid market fundamentals.'In late 2006, Phelps Dodge announced an agreement to be acquired by Freeport-McMoRan Copper & Gold Inc.newsdesk@afxnews.comksCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Phelps Dodge holder in favor of FCX deal 