Alio Gold Q1 Profit Down

(RTTNews) - Alio Gold Inc (ALO, ALO.TO) reported that its first-quarter earnings for the Company decreased to $3.2 million, or $0.07 per share from $6.0 million, or $0.17 per share last year. This decrease was primarily due to lower gold ounces sold. Additionally, there were lower earnings from mine operations of $3.7 million compared to $9.8 million last year primarily a result of fewer ounces sold.

Metal revenues decreased to $23.3 million compared to $32.3 million in the prior year, as a result of fewer ounces sold.

The Mine produced 17,624 gold ounces and 8,997 silver ounces compared to 26,048 gold ounces and 11,899 silver ounces during the first-quarter of 2017. The decrease was a result of lower grade.

The company maintained 2018 guidance of between 90,000 and 100,000 ounces of gold.