Fluor’s St. Joe Gold Unit Nets $1.45 Million in Period

St. Joe Gold Corp., a unit of the Fluor Corp., said it had net earnings of $1.45 million for its fiscal 1987 second quarter ended April 30, a 17% jump from $1.2 million a year earlier. The quarter’s results included a $500,000 tax benefit. Sales of $28.3 million were up 7% from $26.5 million in the fiscal 1986 second quarter.

For the first half of the year, net income fell by 50% to $2.65 million from $5.3 million a year earlier. A $900,000 tax benefit was included in the six-month results. Revenue for the period declined by 1% to $54.6 million from the year earlier $55.2 million.

The Clayton, Mo., company attributed the second quarter rise in profit and sales to higher gold prices and said the slump for the first half was caused by lower sales of some types of ores and production of a lower grade of ore in the first quarter.