Alcoa Posts Losses, But Not As Bad As Expected

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Alcoa posted losses for the second quarter of 2013, but it wasn't as bad as analysts expected.

Alcoa says it lost $119 million, or 11 cents per share, in the April-through-June quarter. That compares with a loss of $2 million a year ago. Revenue fell 2 percent on lower aluminum prices.
 
The results still beat Wall Street expectations. Excluding $195 million in restructuring and legal-expense items, the company said it would have earned 7 cents per share, a penny better than analysts expected.
 
Alcoa continues to see strong sales of aluminum products used in automobiles and airplanes.
 
Shares rose 11 cents to $7.92 Monday, but that was before the quarterly results were released. Shares fell in after-hours trading.
 
Alcoa is one of the north country's largest employers, with two plants in Massena.
Sunday, April 20, 2014
, Watertown, NY

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