Alcoa Improves
Sydney Morning Herald
Sunday April 9, 1995
PITTSBURGH: Aluminum Co of America's first-quarter earnings have soared from a year ago, reflecting the industry's resurgence amid higher prices, stronger demand and production cuts.
Pittsburgh-based Alcoa, the world's largest aluminum producer, said net income jumped to $US193.8 million, or $US1.08 a share, from a year-earlier profit from operations of $9.6 million.
Including charges of $US117.9 million, or $US0.66 a share, to shut an extrusions and forgings plant in California and redeem debentures, Alcoa had a final loss of $108.3 million, or $US0.61, in last year's first quarter.
© 1995 Sydney Morning Herald
Share This