Novelis quarterly loss widens to $103M
Nov 10, 2008 | 10:35 AM
| Paul Schaffer
Novelis Inc., unable to keep pace with energy and other input costs, fell deeper into the red in its fiscal second quarter.
The Atlanta-based aluminum sheet producer and recycler posted a $103-million net loss for the three months ended Sept. 30 vs. a $19-million loss in the same period last year despite a 4.9-percent increase in sales to $2.96 billion from $2.82 billion.
"The economic challenge in the (fiscal) second quarter was the cost of energy and other commodity inputs, which increased far in excess of our ability to increase prices," Martha Finn Brooks, the company's president and chief operating officer, said in a statement. "Our results were further impacted by currency and metal price movements late in the quarter."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here