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Member Since: 1/2007Last Seen: 11/28/2009

Phelps Dodge Posts 988% Rise in Quarterly Net Income

News Type: Event — Seeded on Tue Jan 30, 2007 9:09 AM EST
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Phelps Dodge [NYSE:PD], the world's third-largest copper producer, said that fourth-quarter profit surged to a record high because of higher average copper prices, a gain from its failed takeover of Inco and some well-timed copper hedging. Net income rose 988% year-on-year and 92% for the whole year.

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