US Steel posts profit before items as shipments up

April 24 Tue Apr 24, 2012 8:27am EDT

April 24 (Reuters) - U.S. Steel Corp posted an adjusted first-quarter profit, partly because it shipped more flat-rolled steel in the quarter.

The net loss was $219 million, or $1.52 per share, compared with a net loss of $86 million, or 60 cents per share, in the same quarter of 2011. But adjusted for items, including a $399 million loss on the sale of its Serbian operations, it posted a profit of 67 cents per share.

Sales rose to $5.2 billion from $4.8 billion in the 2011 quarter, the Pittsburgh-based company said on Tuesday.

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