Century Aluminum Company (NASDAQ: CENX) announced a net loss of $24.4 million ($0.28 per basic and diluted common share) for the fourth quarter of 2009.
The press release is quoted as saying:
Financial results were negatively impacted by net after-tax expense of $11.5 million related to the purchase of downside aluminum price protection for a portion of Century’s U.S. production through 2010, and a net after-tax charge of $5.3 million for losses on early extinguishment and modification of debt. Financial results were positively impacted by a $6.6 million benefit related to discrete income tax adjustments. Cost of sales for the quarter includes a $17.2 million net after-tax charge for the portion of power costs at Hawesville payable by the previous power supplier per the terms of the power agreements.
