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Teck Cominco reports net earnings of $504 million in the third quarter
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| Teck Cominco reports net earnings of $504 million in the third quarter |
| 10.30.06 (10:23 pm) [edit] |
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Teck Cominco reports net earnings of $504 million in the third quarter
VANCOUVER, Oct. 30 /CNW/ - Don Lindsay, President and CEO said, "Third
quarter earnings were $504 million, up from $405 million a year ago. We did
ship all of our Red Dog concentrates during the 2006 shipping season, however
poor weather conditions delayed the loading of vessels and the timing of
shipments resulting in the shifting of some of Red Dog's sales from the third
quarter into the fourth quarter of this year and the first quarter of 2007.
Year-to-date net earnings were $1.6 billion, almost double the net earnings of
$835 million in the first nine months of 2005."
Management's Discussion and Analysis of Financial Position and
Results of Operations
This discussion and analysis of financial condition and results of
operations of Teck Cominco Limited is prepared as at October 30, 2006, and
should be read in conjunction with the unaudited consolidated financial
statements of Teck Cominco Limited and the notes thereto for the three and
nine months ended September 30, 2006 and with the audited consolidated
financial statements of Teck Cominco Limited and the notes thereto for the
year ended December 31, 2005. In this discussion, unless the context otherwise
dictates, a reference to Teck Cominco or the company refers to Teck Cominco
Limited and its subsidiaries including Teck Cominco Metals Ltd. and a
reference to Teck Cominco Metals refers to Teck Cominco Metals Ltd. and its
subsidiaries. Additional information relating to the company, including the
company's annual information form, is available on SEDAR at www.sedar.com.
This discussion and analysis contains forward-looking statements. Please
refer to the cautionary language on page 15.
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