U.S. Steel reports loss, sales drop

April 30 Tue Apr 30, 2013 8:21am EDT

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April 30 (Reuters) - United States Steel Corp reported a first quarter loss on Tuesday, compared with a year-earlier adjusted profit, and its sales dropped more than 10 percent.

Net loss for the first quarter narrowed to $73 million, or 51 cents a share, from $219 million, or $1.52 a share, a year earlier. Net sales fell to $4.60 billion from $5.17 billion.

Excluding a charge related to the repurchase of some of the company's convertible notes and other items, U.S. Steel reported a loss of $51 million, or 35 cents a share, compared with adjusted earnings of $110 million, or 67 cents a share.