• Most Popular
  • Most Shared

UPDATE 1-Century Aluminum quarterly profit up

Tue Oct 27, 2009 4:26pm EDT

Stocks

   

* Q3 net profit 45 cents/share

* Sales drop 59 pct

HOUSTON, Oct 27 (Reuters) - Century Aluminum Co (CENX.O) reported a higher third quarter profit on Tuesday as results were helped by one-time items and cost-cutting.

The third-quarter profit was $40.1 million, or 45 cents per share, compared with $35.8 million, or 55 cents per share, a year ago, the Monterey, California-based company said.

In the 2009 quarter, there were 50 percent more shares outstanding.

Results were helped by a net after-tax gain of $55.6 million related to the termination and replacement of an existing existing power contract.

Sales fell to $229 million from $552 million a year earlier, hurt by a drop in aluminum shipments. (Reporting by Anna Driver in Houston; Editing Bernard Orr)



More from Reuters

Photo

Job losses slow in December, service sector grows

NEW YORK (Reuters) - The rate of job losses at U.S. private employers slowed in December and the services sector showed marginal growth, according to reports on Wednesday which underlined the tentative nature of the economic recovery.

» More Top News
Senate Banking Committee Chairman Sen. Chris Dodd listens to testimony at the Senate Banking Committee on Capitol Hill in Washington, July 23, 2009. REUTERS/Larry Downing
Analysis:

Powerbroker to lame duck

With Senate Banking Committee Chairman Christopher Dodd out of the Senate race, can the vulnerable Democrats hold his seat?  Full Article 

Politics
Apple Inc. Chief Executive Steve Jobs walks through the crowd after a special event in San Francisco September 9, 2009. REUTERS/Robert Galbraith
Robert Cyran:

The $25 billion iSlate premium

Betting against Steve Jobs is rarely a good idea and investors have high hopes the much anticipated gadget will do what the iPod and the iPhone have already done for Apple.  Commentary 

Technology