Shanghai Metals Market
UPDATE 1-Century Aluminum Posts Loss on Higher Costs
Edited by : AL CIRCLE
1 min read
Century Aluminum posted a fourth-quarter loss, hurt mainly by higher costs.
Net loss was $31.1 million, or 35 cents per share, compared with a profit of $65.3 million, or 64 cents per share, a year ago.
Revenue rose slightly to $318.2 million.
Costs for sold goods rose 20 percent to $331.8 million.
In November, the Monterey, California-based company's Chief Executive Logan Kruger resigned and filed a lawsuit against the aluminum producer, alleging breach of contract and wrongful termination.
The company, which named Chief Financial Officer Michael Bless to replace him, said the claims were without merit.
Century Aluminum's shares closed at $10.73 on Thursday on the Nasdaq.
Net loss was $31.1 million, or 35 cents per share, compared with a profit of $65.3 million, or 64 cents per share, a year ago.
Revenue rose slightly to $318.2 million.
Costs for sold goods rose 20 percent to $331.8 million.
In November, the Monterey, California-based company's Chief Executive Logan Kruger resigned and filed a lawsuit against the aluminum producer, alleging breach of contract and wrongful termination.
The company, which named Chief Financial Officer Michael Bless to replace him, said the claims were without merit.
Century Aluminum's shares closed at $10.73 on Thursday on the Nasdaq.
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