Magma Copper reports net income of $11.7 million(US) or $0.31 per common share on revenue of $136.2 million during the second quarter of 1988 compared with $7.5 million, which contained a pension settlement gain of $9.8 million, on revenue of $97.8 million for the second quarter of 1987.
Copper sales, including rod conversion premiums contributed $116.3 million or 85% of total revenue for the second quarter of 1988, compared to $82.5 million or 84% of total revenue for the second quarter of 1987.
Net income for the first half of 1988 was $28.5 million, or $0.33 per share, after accounting for preferred dividends of $16 million, on revenue of $269.1 million in the first quarter. During the same period in 1987, net income was $1.7 million on revenue of $199.2 million.
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