W-P posts $21M loss, issues warning on debt

Nov 08, 2005 | 02:02 PM |

Lower steel prices and rising raw material costs combined to spill more than $21.1 million worth of red ink on the third-quarter books of Wheeling-Pittsburgh Corp., the holding company that owns Wheeling-Pittsburgh Steel Corp. Wheeling, W.Va.

WHEELING-PITTSBURGH CORP.(in thousands except per share) 200520043rd qtr. ended Sept. 30Net sales$374,891$401,800Net income (loss)(21,147)35,534Per share—3.429 months ended Sept. 30Net sales$1,189,636$1,032,127Net income (loss)(10,420)55,852Per share—5.62A year earlier, the company rode the rising tide of strong steel prices to post net income of more than $35.5 million.....

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