Kaiser Aluminum Corporation (NASDAQ:KALU) reported net income of $0.1 million and earnings per diluted share of $0.01 for the second quarter ended June 30, 2010 compared to $20 million and earnings per diluted share of $0.97 for the quarter ended June 30, 2009.

The press release is quoted as saying:

Non-run-rate losses in the second quarter 2010 were approximately $22 million compared to non-run-rate gains of $22 million in the second quarter of 2009. Excluding the impact of these pre-tax, non-run-rate items, adjusted net income was $13.5 million, or $0.71 earnings per diluted share, for the second quarter of 2010 compared to adjusted net income and earnings per diluted share of $6.5 million and $0.32, respectively, for the prior year quarter.

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