Alcoa Annouces Highest Quarterly Income, Revenue In Its History
July 11, 2005
Alcoa recently announced the highest quarterly income and revenue in the company's history. Second quarter income from continuing operations was $473 million, or $0.54 per diluted share, up from $0.31 in the first quarter of 2005 and $0.46 in the second quarter of 2004. Net income for the quarter was $460 million, or $0.52, up 77% over the first quarter's $260 million, or $0.30, and up 14% over the $404 million, or $0.46, of the second quarter of 2004. Revenues for the quarter were $6.8 billion, an increase of 13% year-over-year and 8% on a sequential quarter basis, and the highest quarterly sales in the company's history. Revenues were driven by higher volumes and the company's acquisition of fabricating facilities in Russia. A record performance by the alumina business and a better mix of value-added fabricated products, coupled with stronger pricing and demand in the aerospace, commercial vehicle and building markets, drove revenues higher, offsetting lower realized prices in the primary metals business.
Additional details are available at http://www.alcoa.com.