Alcoa (AA)

Alcoa reported for the 4th-quarter 2009 a loss of $277 million, or $-.28 per share, on sales of $5.4 billion. That compares to the prior year loss of $1.19 billion, or $-1.49 per share, on sales of $5.7 billion.
Alcoa is spinning the results positively that sales are up sequentially. That's nice, and they have cut their losses compared to Q4 2008. “This was a tough year for the aluminum industry – a price crash, demand destruction, and credit crunch. Yet, today Alcoa is stronger than when the year started,” said Klaus Kleinfeld, Alcoa President and CEO. “We reshaped our cost structure and portfolio for profitable growth. And, we built the cash reserves to weather current economic uncertainties and invest in opportunities for future growth. Alcoa will benefit from those achievements for many years to come.”

Jan 11 · 4:46:00 PM · Source: Company Press Release
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by Rich Pike