AK Steel posts fifth straight quarterly loss

Oct 23, 2012 | 11:14 AM | Anne Riley

Tags  AK Steel, James Wainscott, quarterly earnings results, quarterly loss, steel, Anne Riley

NEW YORK — AK Steel Corp. reported its fifth consecutive quarterly loss in the third quarter, and said it anticipates logging a sixth quarter in the red during the final months of 2012.

The West Chester, Ohio-based steelmaker, which last reported a quarterly profit during the second quarter of 2011, said elevated input costs and lower sales prices were partially behind the loss.

"Challenging domestic and global economic conditions continue to weigh on shipping volumes and prices," chairman, president and chief executive officer James L. Wainscott said in a statement. "Additionally, while we expect to enjoy lower raw material costs in the future, we are still working through some higher-cost raw material inventories."....

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