VANCOUVER – Aurizon Mines Ltd. (TSX:ARZ) reports it had a substantial drop in revenue, net profit and cash flow last year but its fourth quarter earnings per share met analyst estimates.
The Vancouver-based company, which is attempting to fend off a hostile takeover, says its net profit was $31.8 million for the year, including $9.4 million in the fourth quarter.
For the fourth quarter, the profit amounted to six cents per share, meeting the consensus estimate compiled by Thomson Reuters.
However, it was less than half the 13 cents per share reported a year earlier.
Aurizon’s revenue last year was $223.5 million, including $56.2 million in the fourth quarter ended Dec. 31.
That’s down from about $260 million of revenue in the 12 months ended Dec. 31, 2011, including $84.7 million in the fourth quarter of that year.
Net cash from operating activities was $62.3 million in 2012, including $25.3 million for the quarter. That’s down from $121 million in 2011, including $49 million in that year’s fourth quarter.
Note to readers: This is a corrected story. An earlier version said earnings per share had missed analyst estimates.