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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Alcoa Posts $2.3B Net Loss  0 comments
    Jan 10, 2014 12:07 PM | about stocks: AA

    Originally published at

    Alcoa Inc. (NYSE:AA) announced its financial results for the fourth quarter of fiscal year 2013, posting a net loss of $2.3B. The aluminum giant's net loss of $2.3B and $2.19 per share is a drastic shift from its $242M and $0.21 per share earned a year ago. The large disparity in the results between the years is attributed mostly to the write-down of aluminum-smelting operations. When excluding such charges, adjusted earnings per share were $0.04, falling just short of the $0.06 per share analysts had predicted. Revenue declined slightly from the year-ago period of $5.9B to $5.6B, beating revenue estimates of $5.36B. Separately, a joint venture for which Alcoa owns 60% will pay $223M in fines for admitting to bribing officials in Bahrain. Alcoa settled the claims in 2012 with Aluminum Bahrain for $85M.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: AA
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