Alcoa reports losses in quarter, year

Jan 09, 2014 | 06:08 PM | Michael Cowden

Tags  Alcoa, earnings results, outlook, Klaus Kleinfeld, aluminum, Reynolds Metals, Alumax, Alba Aluminium Bahrain

CHICAGO — Alcoa Inc. swung to a loss in its fourth-quarter and full-year 2013 financial results, chalking up the losses to its efforts to refocus on downstream operations and write-downs at its primary metals segment.

The Pittsburgh-based aluminum producer reported a full-year net loss of $2.29 billion, in contrast to 2012 net income of $191 million, on sales that fell 2.8 percent to $23 billion from $23.7 billion, the company said Jan. 9.

Alcoa’s fourth-quarter net loss of $2.34 billion was in contrast to net income of $242 million in the year-earlier quarter on sales that fell 5.3 percent to $5.59 billion from $5.9 billion.....





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