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Brazil's Usiminas posts net loss for sixth straight quarter
July 26, 2013 / 10:56 AM / 4 years ago

Brazil's Usiminas posts net loss for sixth straight quarter

SAO PAULO, July 26 (Reuters) - Usinas Siderúrgicas de Minas Gerais SA, Brazil’s largest producer of steel products for automakers, posted a second-quarter net loss of 22 million reais ($9.8 million), the company’s sixth straight quarterly shortfall, according to a securities filing on Friday.

According to six analysts surveyed by Thomson Reuters, Usiminas, as the company is known, was expected to lose a net 205 million reais in the quarter. A seventh analyst in the same poll estimated net income at 104 million reais.

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