Horsehead posts smaller loss
Aug 06, 2012 | 03:05 PM
| Daniel Fitzgerald
NEW YORK Horsehead Holding Corp. posted a second-quarter net loss of nearly $1.69 million, a 54-percent improvement from a $3.66-million net loss in the same period last year, on sales that climbed 22.6 percent to nearly $117.49 million.
The Pittsburgh-based company, a leading U.S. producer of specialty zinc and zinc-based products and a leading recycler of electric-arc furnace dust, blamed the loss on lower London Metal Exchange zinc prices.
"The LME zinc price was 14 percent lower vs. the same quarter last year, reducing earnings an estimated 13 cents per share for the quarter," the company said, noting that the average LME zinc price was 87 cents per pound in the second quarter vs. $1.02 a year earlier.....
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