updated 7/9/2007 4:34:30 PM ET 2007-07-09T20:34:30

Aluminum maker Alcoa Inc. on Monday said second-quarter profit slipped nearly 4 percent as outage costs at two smelters weighed down results.

Net income fell to $715 million, or 81 cents per share, from $744 million, or 85 cents per share, for the same period last year.

The recent results include an after-tax restructuring increase of $21 million, mainly from the completion of a joint venture with Sweden’s Sapa Group, and a 2 cent-per-share charge linked to Alcoa’s outstanding $27.5 billion bid for Canadian rival Alcan Inc.

Quarterly revenue rose to a record $8.1 billion, a 3.8 percent increase from $7.8 billion during the year-ago period. The growth was fueled by higher volumes and improved product mix, according to the Pittsburgh-based company.

Analysts surveyed by Thomson Financial were expecting earnings of 81 cents per share on sales of $8.3 billion.

© 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com