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Noranda Aluminum Q4 Profit Down
Edited by : AL CIRCLE
1 min read
Noranda Aluminum Holding Corp.'s (NOR: News ) fourth-quarter 2011 net income slid to $24.4 million or $0.36 per share from $34.9 million or $0.59 per share in the prior-year quarter.
Excluding special items, Noranda reported quarterly net income of $0.6 million or $0.01 per share, versus $24.0 million or $0.41 per share a year earlier. Both fourth quarter and full-year 2011 results included $16.5 million or $0.16 per share of costs associated with Alumina and Bauxite maintenance events.
On average, 8 analysts polled by Thomson Reuters expected earnings per share of $0.05 for the quarter. Analysts' estimates typically exclude one-time items.
Sales totaled $338.5 million compared with $344.3 million in the year-ago period. Analysts estimated revenues of $350.14 million for the quarter.
Further, the board has declared a regular quarterly dividend of $0.04 per share to be paid on March 21, 2012 to shareholders of record as of February 27, 2012. The board anticipates declaring this dividend in future quarters on a regular basis; however, changes in the company's financial condition and cash needs could result in dividends being declared in different amounts, or not at all.
Excluding special items, Noranda reported quarterly net income of $0.6 million or $0.01 per share, versus $24.0 million or $0.41 per share a year earlier. Both fourth quarter and full-year 2011 results included $16.5 million or $0.16 per share of costs associated with Alumina and Bauxite maintenance events.
On average, 8 analysts polled by Thomson Reuters expected earnings per share of $0.05 for the quarter. Analysts' estimates typically exclude one-time items.
Sales totaled $338.5 million compared with $344.3 million in the year-ago period. Analysts estimated revenues of $350.14 million for the quarter.
Further, the board has declared a regular quarterly dividend of $0.04 per share to be paid on March 21, 2012 to shareholders of record as of February 27, 2012. The board anticipates declaring this dividend in future quarters on a regular basis; however, changes in the company's financial condition and cash needs could result in dividends being declared in different amounts, or not at all.
Tagged with:Financial Reports
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