First-quarter adjusted profit rose to $18.3 million, or 18 cents a share, from $2 million, or 1 cent, in the year earlier period. Analysts, on average, expected earnings of 13 cents a share, according to Thomson Reuters I/B/E/S.
Factoring in a one-time foreign exchange loss, an inventory writedown at its European operations and a bad debt charge, Molycorp posted a net loss of $3.5 million, or 7 cents a share.
That compared with a loss of $2.2 million, or 4 cents a share, in the year-earlier period.
Revenue more than tripled to $84.5 million as rare earth sales volumes rose to 719 tonnes from 696 tonnes in the year-earlier period. The company's realized rare earth oxide price more than doubled to $95 a kilogram from $38 a kilogram.
Factoring in a one-time foreign exchange loss, an inventory writedown at its European operations and a bad debt charge, Molycorp posted a net loss of $3.5 million, or 7 cents a share.
That compared with a loss of $2.2 million, or 4 cents a share, in the year-earlier period.
Revenue more than tripled to $84.5 million as rare earth sales volumes rose to 719 tonnes from 696 tonnes in the year-earlier period. The company's realized rare earth oxide price more than doubled to $95 a kilogram from $38 a kilogram.
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