Alcoa Announces Third Quarter Results
October 12, 2004
Alcoa recently announced that its income from continuing operations was $298 million, or $0.34 per diluted share, in the third quarter, up from $285 million, or $0.33, in the third quarter of 2003, and down from $405 million, or $0.46, in the previous quarter. Net income in the quarter was $283 million, or $0.32, down from $404 million, or $0.46, in the previous quarter, and even with $280 million, or $0.33, in the third quarter of 2003. Year-to-date income from continuing operations was $1.053 billion, or $1.20, 52% more than 2003's result of $695 million, or $0.82. During this time period, the average cash aluminum price traded on the LME increased by 20%. "Industry fundamentals and performance in key markets continue to be strong. Our efforts to tackle higher labor and health care costs in North America lowered profitability. We are taking the right approach to ensure competitiveness for the long-term," said Alain Belda, chairman and CEO.
For additional details, visit http://www.alcoa.com.