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UPDATE 1-Century Aluminum Posts Q2 Profit

Industry News 09:00:24AM Jul 28, 2010 Source:SMM

NEW YORK, July 28 -- Century Aluminum Co (CENX.O: Quote) reported a second-quarter net profit on Tuesday, after a loss a year earlier, helped by a gain on forward contracts.

Net profit for the quarter was $5.1 million, or 5 cents per share, compared with a loss of $107.1 million, or $1.45 per share, a year ago.

Results for the latest quarter included a $9.3 million mark-to-market gain on forward contracts, the Monterey, California-based company said.

Sales rose 52 percent to $287.9 million.

Analysts were looking for earnings of 25 cents a share, on revenue of $292 million, according to Thomson Reuters I/B/E/S.

Shares of the company fell 3 percent to $10.22 in after-market trade. The shares, which have fallen over 40 percent from a year-high in January, closed at $10.55 Tuesday on Nasdaq.

 

Key Words:  Aluminum Al  Century Aluminum 

UPDATE 1-Century Aluminum Posts Q2 Profit

Industry News 09:00:24AM Jul 28, 2010 Source:SMM

NEW YORK, July 28 -- Century Aluminum Co (CENX.O: Quote) reported a second-quarter net profit on Tuesday, after a loss a year earlier, helped by a gain on forward contracts.

Net profit for the quarter was $5.1 million, or 5 cents per share, compared with a loss of $107.1 million, or $1.45 per share, a year ago.

Results for the latest quarter included a $9.3 million mark-to-market gain on forward contracts, the Monterey, California-based company said.

Sales rose 52 percent to $287.9 million.

Analysts were looking for earnings of 25 cents a share, on revenue of $292 million, according to Thomson Reuters I/B/E/S.

Shares of the company fell 3 percent to $10.22 in after-market trade. The shares, which have fallen over 40 percent from a year-high in January, closed at $10.55 Tuesday on Nasdaq.

 

Key Words:  Aluminum Al  Century Aluminum