03/20/2013 07:26 EDT | Updated 05/20/2013 05:12 EDT

Timmins Gold profit rises to US$36 million in 2012; revenues hits $156M

VANCOUVER - Timmins Gold Corp. (TSX:TMM) says its annual profit grew to US$36 million in 2012, including US$12 million in the fourth quarter.

The Vancouver-based company's main holding is the San Francisco open pit mine in Sonora, Mexico.

Its 12-month earnings, reported in U.S. currency, amounted to 25 cents per share, including nine cents per share for the three months ended Dec. 31.

Revenue from gold and silver sales was US$156.2 million in 2012, including $40.6 million in the fourth quarter.

In 2011, Timmins Gold had US$90.7 million of revenues over a nine-month period, including $35.5 million in the fourth quarter.

The company's 2011 profit was $20.9 million or 15 cents per share, including $11.5 million or eight cents per share in the fourth quarter ended Dec. 31, 2011.