AK Steel expects smaller loss on higher selling price, lower costs

March 22 Fri Mar 22, 2013 9:21am EDT

March 22 (Reuters) - AK Steel Holding Corp said it expects net loss in the first quarter to fall from the fourth quarter due to higher selling prices and lower raw material costs.

The steelmaker expects the loss in the range of 9 cents to 13 cents per share. It reported a loss of $1.89 per share in the preceding quarter.

Analysts on average were expecting a loss of 9 cents per share in the quarter ending March 31, according to Thomson Reuters I/B/E/S.

The company expects its average selling price to increase by about 5 percent in the current quarter.

AK Steel expects to record a non-cash tax benefit of $4 million to $5 million in the quarter.

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