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.

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