Cliffs' net income surpasses record $1-billion mark in 2010
Feb 17, 2011 | 08:27 AM
Increased volumes, higher selling prices and a resurgence in steelmaking raw materials helped Cliffs Natural Resources Inc. hit a new milestone as the company earned more than $1 billion in 2010.
"Our impressive earnings momentum is directly attributable to the strategic efforts to increase our business' exposure to seaborne pricing over the past five years," Joseph A. Carrabba, the Cleveland-based company's chairman, president and chief executive officer, said.
Net income totaled $1.02 billion in 2010, nearly five times the year-earlier $205.1 million, on revenue that nearly doubled to $4.68 billion from $2.34 billion.....
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.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.