25 JULY 2012Reuters
Century Aluminum posts second quarter loss
Edited by : AL CIRCLE
1 min read
Century Aluminum Co swung to a second-quarter loss as lower aluminum prices offset rise in shipments.
Net loss was $12.3 million, or 14 cents a share, compared with a net profit of $24 million, or 24 cents a share, the company said.
Revenue fell 12 percent to $323.6 million.
Shipments of primary aluminum totaled 93,831 tonnes, compared with 84,509 tonnes a year ago.
On July 9, aluminum giant Alcoa Inc reported quarterly revenue and profit that beat Wall Street's expectations, and it forecast growing demand in the aerospace and auto sectors.
Shares of Monterey, California-based Century Aluminum closed at $5.93 on Tuesday on Nasdaq. They have fallen close to 60 percent in the past 52-weeks.
Net loss was $12.3 million, or 14 cents a share, compared with a net profit of $24 million, or 24 cents a share, the company said.
Revenue fell 12 percent to $323.6 million.
Shipments of primary aluminum totaled 93,831 tonnes, compared with 84,509 tonnes a year ago.
On July 9, aluminum giant Alcoa Inc reported quarterly revenue and profit that beat Wall Street's expectations, and it forecast growing demand in the aerospace and auto sectors.
Shares of Monterey, California-based Century Aluminum closed at $5.93 on Tuesday on Nasdaq. They have fallen close to 60 percent in the past 52-weeks.
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