The Successful Investor Hotline – Friday, April 23, 2010

Article Excerpt

TECK RESOURCES LTD., $43.77, Toronto symbol TCK.B, earned a record $908 million in the three months ended March 31, 2010. That’s up 276.8% from $241 million a year earlier. Earnings per share rose 206.0%, to $1.53 from $0.50, on more shares outstanding. One-time items, including the sale of two gold mines in Turkey and a one-third interest in a B.C. hydroelectric dam, boosted the company’s earnings in the latest quarter. Without one-time items, Teck’s earnings would have fallen 4.2%, to $205 million from $214 million. Teck’s cash flow per share fell 42.5%, to $0.70 from $1.22. However, its revenue rose 13.8%, to $1.9 billion from $1.7 billion, largely because of rising copper prices. Thanks to its October 2008 purchase of Fording Canadian Coal Trust, Teck now gets about 40% of its revenue and earnings from metallurgical coal, which is used in steelmaking. Teck’s average realized coal price was $140 U.S. a tonne in the latest quarter. That’s down 31.4% from $204…

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