Ceramic Industry News

Alcoa Reports Third Quarter Income

Alcoa has announced third quarter 2010 income from continuing operations of $61 million, or $0.06 per share, compared with second quarter 2010 income from continuing operations of $137 million, or $0.13 per share, and third quarter 2009 income from continuing operations of $73 million, or $0.07 per share. Third quarter 2010 results included a negative impact for special items of $35 million, or $0.03 per share, compared to a $2 million net charge for special items in the sequential quarter and a positive impact of $34 million, or $0.03 per share, in the year-ago quarter.

Quarterly results were impacted by lower London Metal Exchange prices and negative currency impacts. These were partially offset by higher volumes in alumina, flat-rolled products, and engineered products and solutions, as well as the continued benefits from Alcoa’s cash sustainability program.

In the Alumina segment, after-tax operating income (ATOI) in the third quarter was $70 million, a decrease of $24 million compared with second quarter ATOI of $94 million. A 5% decline in realized alumina price, negative currency impacts, and São Luís production recovery efforts were partially offset by higher production, continued productivity benefits, and a favorable tax rate change. Alumina production in the third quarter increased to 4047 thousand metric tons.

For additional details, visit www.alcoa.com.

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