Fabricated products lead Kaiser to profitability
Nov 15, 2005 | 09:18 AM
Kaiser Aluminum Corp. pushed further into the black during the third quarter, reporting earnings from continuing operations of $15 million in contrast to a $160.5-million operating loss in the same period last year.
The 2004 third-quarter loss was due in part to a $155-million charge related to the company's reorganization under Chapter 11 bankruptcy protection.KAISER ALUMINUM CORP.(in thousands except per share) 200520043rd qtr. ended Sept. 30Net sales$271,600$244,400Net income (loss)11,900(69,500)Per share0.05-9 months ended Sept. 30Net sales$815,900$684,700Net income (loss)381,900(109,300)Per share4.79-The latest results reflect higher sales of fabricated products, resulting in operating earnings of $24.5 million-about double those of a year earlier. Higher aluminum prices, lower administrative expenses and the restructuring of ongoing retiree obligations also contributed to the improved results, the company said.....
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