Wolverine Tube reduces loss on higher volume
Oct 27, 2004 | 11:16 AM
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Wolverine Tube reduces loss on higher volume Wolverine Tube Inc., Huntsville, Ala., posted a third-quarter net loss of $2.6 million, a 92-percent improvement from a $31.7-million loss in the same period last year.
Earnings were impaired by higher copper costs, hedging issues and the weakening dollar, but were bolstered by higher shipment volumes, the company said.
Wolverine shipped 84.5 million pounds of copper products in the three months ended Oct. 3, up 4.9 percent from a year earlier. Rod and bar shipments rose 20 percent to 5.6 million pounds, while shipments of commercial products increased 9.2 percent to 58.4 million pounds.....
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