Aleris logs quarterly loss; adjusted operating income up
Nov 09, 2006 | 04:34 AM
| Paul Schaffer
Aluminum sheet producer and recycler Aleris International Inc. reported a net loss of $24.2 million on revenue of $1.4 billion in the third quarter in contrast to net income of $31.5 million on $554.9 million revenue in the year-earlier quarter.
The loss was attributed to several accounting factors, including a quadrupling of the tax rate as benefits expired and debt refinancing costs related to buying of mills from Corus Group Plc. The Corus facilities became part of Aleris for the final two months of the 2006 quarter.....
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