Horsehead posts smaller loss
Aug 06, 2012 | 03:05 PM
| Daniel Fitzgerald
Tags
Horsehead,
zinc,
Jim Hensler,
LME,
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.....
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.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here