Noranda Income Fund announced earnings results for the fourth quarter and year of 2012. For the quarter, the company reported revenues of $150,779,000 compared to $137,803,000 a year ago. Earnings before finance costs and income taxes were $24,256,000 compared to $2,410,000 a year ago. Earnings before income taxes were $22,247,000 compared to $129,000 a year ago. Earnings attributable to unit holders and Non-controlling interest were $27,378,000 compared to $243,000 a year ago. Cash used in operating activities was $19,037,000 compared to cash provided by operating activities of $46,254,000 a year ago. Adjusted EBITDA was $27,034,000 compared to $20,005,000 a year ago.

For the year, the company reported revenues of $577,676,000 compared to $644,271,000 a year ago. Earnings before finance costs and income taxes were $66,654,000 compared to $59,860,000 a year ago. Earnings before income taxes were $58,673,000 compared to $43,750,000 a year ago. Earnings attributable to unit holders and Non-controlling interest were $51,023,000 compared to $28,342,000 a year ago. Cash provided by operating activities was $25,314,000 compared to $126,770,000 a year ago. Adjusted EBITDA was $100,660,000 compared to $97,591,000 a year ago.

For the quarter, the company's Zinc concentrate processed was 124,296 tonnes compared to 127,351 tonnes for the same period in 2011. Zinc metal production was 74,748 tonnes compared to 67,504 tonnes for the same period in 2011.

For the year, the company's Zinc concentrate processed was 497,183 tonnes compared to 504,851 tonnes for the same period in 2011. Zinc metal production was 263,697 tonnes compared to 263,286 tonnes for the same period in 2011.

Bob Sippel resigned from the Fund's Board of Trustees. Mr. Sippel has been a Board member since April of 2004. His expertise in both zinc markets and the zinc industry was invaluable to the Fund. Neil Wardle joined the Board of Trustees. Mr. Wardle was appointed Chief Operating Officer of Xstrata Zinc Canada in July 2012. Prior to this, he was the Executive General Manager of Britannia Refined Metals Limited which is part of Xstrata plc Mr. Wardle has also held various other mining and metallurgical roles in Australia.