Alcoa reports losses in quarter, year
Jan 09, 2014 | 06:08 PM
| Michael Cowden
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.
Alcoas 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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