USS still in red despite shipment rise
Apr 24, 2012 | 01:24 PM
| Anne Riley
NEW YORK U.S. Steel Corp.s flat-rolled division reported its highest shipping level since the third quarter of 2008 during the first three months of 2012 and expects to maintain that momentum throughout the second quarter, the Pittsburgh-based steelmaker said Tuesday as it reported its second consecutive quarter in the red.
In the first quarter, U.S. Steel posted a net loss of $219 million vs. a $211-million loss in the fourth quarter and an $86-million loss in the first three months of last year. The steelmaker reported sales of $5.17 billion in the first quarter, up 7.3 percent from $4.82 billion in the fourth quarter and 6.3 percent from $4.86 billion in the first quarter of 2011.....
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