Significant Drop in Net Earnings for Yamana Gold

Yamana Gold Inc. (TSX:YRI,NYSE:AUY,LSE:YAU) announced that its second quarter results for 2012 include a year-on-year drop in net earnings from $194.68 million to $42.91 million. However, the company did produce 288,700 gold equivalent ounces.

According to the press release, significant financial results include:

• Revenue of $536 million
• Adjusted earnings of $135 million, $0.18 per share
• Cash flow generated from operations of $241 million, $0.32 per share
• Generated cash margin of $1,361 per ounce
• Cash and cash equivalents were $699 million
• Declared a quarterly dividend of $0.065 per share, representing an 18% increase over the second quarter dividend rate

Click here to read the full Yamana Gold Inc. (TSX:YRI,NYSE:AUY,LSE:YAU) press release.