Summary
Alcoa Inc. on Wednesday reported a second-quarter loss that was smaller than analysts' estimates because production cuts and work force reductions helped the company save money.
The net loss of $454 million, or 47 cents a share, compared with net income of $546 million, or 66 cents, a year earlier, Alcoa said in a statement. Sales fell 41 percent to $4.24 billion. The loss excluding certain items was 26 cents a share, narrower than analysts' average estimate for a 38-cent loss.See the full content of this document
Extract
Alcoa's Second-Quarter Loss Not As Bad As Expected
Chief Executive Officer Klaus Kleinfeld has reduced output and fired workers as the recession sl...
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