Alcoa reported a narrower fourth-quarter loss
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On Monday, Alcoa Inc reported a narrower fourth-quarter loss as aluminum prices inched up, but the result fell short of expectations and its shares dropped more than 6 percent in after-hours trade.
The news release is quoted as saying:
Alcoa said the net loss was $277 million, or 28 cents per share, compared with a loss of $1.19 billion, or $1.49 per share, in the fourth quarter of 2008. Excluding charges of 28 cents a share for restructuring, special items and discrete tax items, Alcoa earned 1 cent a share on an operating basis, short of the 6 cents a share expected, on average, by analysts.
Click here to access the entire press release
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