Alcoa Announces Fourth Quarter Loss on Charges Associated with Cutting High-Cost Smelting Capacity, Market Weakness

by ALCOA 09 Jan 21:36

Revenue, Earnings Improve Year-Over-Year

4Q 2011 Highlights
Loss from continuing operations of $193 million, or $0.18 per share; excluding special items, loss from continuing operations of $34 million, or $0.03 per share
Revenue of $6 billion, down 7 percent sequentially, up 6 percent from 4Q 2010
Cash from operations of $1.14 billion, up $653 million from 3Q 2011
Record low days working capital
Free cash flow of $656 million
Cash on hand of $1.9 billion
531,000 metric tons of capacity closed or curtailed to improve competitive position
Forecasting 7 percent growth in global aluminum demand and a global aluminum supply deficit in 2012