Norilsk Nickel Net of $3.3B Misses Estimates

Bloomberg reports OAO GMK Norilsk Nickel (LON:MNOD)  full-year profit rose 27 percent to $3.3 billion.

The market news is quoted as saying,

Net income from continuing operations was $5.2 billion, while Norilsk recorded a $2.1 billion loss from discontinued operations after agreeing to sell its Stillwater Mining Co. (SWC) unit in the U.S. and the OAO OGK-3 utility, it said in a statement today.

Adjusted earnings before interest, taxes, depreciation and amortization were $7.2 billion in 2010 versus $4.2 billion a year earlier, Norilsk said. This was below analyst estimates of $7.4 billion, Bloomberg data shows.

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