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 This material may not be published, broadcast, rewritten or redistributed.

Discuss:

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%
13.79%
Cash Back Cards 17.80%
17.78%
Rewards Cards 17.18%
17.17%
Source: Bankrate.com