Home News Alcoa recorded again in the fourth quarter net loss

Alcoa recorded again in the fourth quarter net loss

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PITTSBURGH (AP) – The U.S. aluminum producer Alcoa has Reporting season opens with a setback. How this works in Pittsburgh U.S. state of Pennsylvania-based company announced on Monday, is again, despite massive cost savings in the fourth quarter in the Loss-slipped.
The net loss in the amount of Alcoa Inc Three-month period to 277 million USD. Had for the October-December 2008 Loss at 1.19 billion USD situated. Per share minus $ 0.28, compared with a fall of 1.49 per share in the fourth quarter of 2008. In Now the figures are quoted U.S. $ 275 million, or $ 0.28 per share, inter alia, for restructuring costs and other Special items included.
Turnover also abated. While the meaning of the fourth quarter unreacted USD 5.4 billion an increase of 18% over the third quarter, in the previous year, the group had not yet redeemed 5.7 billion USD.
That was a tough year for the aluminum industry – a Fall in prices, demand slump and credit crisis, "said Alcoa CEO Klaus Kleinfeld. His company has its costs and the portfolio on profitable growth oriented. In addition, Alcoa has built up cash reserves to The current economic uncertainties to deal with and future investment opportunities can be exploited. Of these, the group would still benefit from many years, added Kleinfeld added.