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Noranda Aluminum's earning drops 96% in first quarter of 2013
Edited by : AL CIRCLE
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Franklin-based Noranda Aluminum Holding Corp.'s earnings were down 96 percent in the first quarter compared to a year ago, according to the company's latest earnings report.
Earnings were $600,000, or 1 cent per diluted share, on revenue of $338.4 million. Analysts, on average, had estimated a loss of 6 cents per share on revenue of $339 million, according to Thomson Reuters.
"We are pleased with our first quarter 2013 performance, which demonstrated improved operating reliability across our integrated upstream platform," said Layle Smith, Noranda`s president and CEO, in a press release. "We saw stable overall demand with improved value-added and fabrication premiums for our key aluminum products during first quarter 2013."
Earnings were $600,000, or 1 cent per diluted share, on revenue of $338.4 million. Analysts, on average, had estimated a loss of 6 cents per share on revenue of $339 million, according to Thomson Reuters.
"We are pleased with our first quarter 2013 performance, which demonstrated improved operating reliability across our integrated upstream platform," said Layle Smith, Noranda`s president and CEO, in a press release. "We saw stable overall demand with improved value-added and fabrication premiums for our key aluminum products during first quarter 2013."
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