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Alcoa reports 4th Quarter Loss

Alcoa Inc. is reporting a fourth-quarter net loss as a slower global economy hurt aluminum demand in industries ranging from construction and packaging to automobiles. The New York manufacturing giant said Monday that its net loss was $191 million, or 18 cents a share, in the October-to-December quarter. That compares with net income of $258 million, or 24 cents a share, a year ago.

The most recent quarter included $185 million in one-time charges. Excluding those, the company’s net loss was $34 million, or 3 cents a share. Revenue rose to $6 billion from $5.65 billion. Other companies with ties to the Reno County area will also release quarterly reports later this month including Union Pacific January 19th…..Siemens January 24th and Eaton January 26th.

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