UPDATE 1-Century Aluminum Posts Loss on Higher Costs-Shanghai Metals Market

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UPDATE 1-Century Aluminum Posts Loss on Higher Costs

Industry News 09:14:34AM Feb 24, 2012 Source:SMM

Feb 23 (Reuters) - Century Aluminum posted a fourth-quarter loss, hurt mainly by higher costs.

Net loss was $31.1 million, or 35 cents per share, compared with a profit of $65.3 million, or 64 cents per share, a year ago.

Revenue rose slightly to $318.2 million.

Costs for sold goods rose 20 percent to $331.8 million.

In November, the Monterey, California-based company's Chief Executive Logan Kruger resigned and filed a lawsuit against the aluminum producer, alleging breach of contract and wrongful termination.

The company, which named Chief Financial Officer Michael Bless to replace him, said the claims were without merit.

Century Aluminum's shares closed at $10.73 on Thursday on the Nasdaq.
 

Key Words:  Century Aluminum  aluminum  

UPDATE 1-Century Aluminum Posts Loss on Higher Costs

Industry News 09:14:34AM Feb 24, 2012 Source:SMM

Feb 23 (Reuters) - Century Aluminum posted a fourth-quarter loss, hurt mainly by higher costs.

Net loss was $31.1 million, or 35 cents per share, compared with a profit of $65.3 million, or 64 cents per share, a year ago.

Revenue rose slightly to $318.2 million.

Costs for sold goods rose 20 percent to $331.8 million.

In November, the Monterey, California-based company's Chief Executive Logan Kruger resigned and filed a lawsuit against the aluminum producer, alleging breach of contract and wrongful termination.

The company, which named Chief Financial Officer Michael Bless to replace him, said the claims were without merit.

Century Aluminum's shares closed at $10.73 on Thursday on the Nasdaq.
 

Key Words:  Century Aluminum  aluminum