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AK STEEL HOLDING CORP (AKS) 18.69 green arrow $0.36 (1.96%) 02:47AM (15 mins delay)


AK Steel Q3: Outlook Looks Gloomy

Oct 28, 2009 - 11:25 AM EDT

Zacks.com submits:

Yesterday morning, AK Steel (AKS) reported weak results for the third quarter of 2009. Net income of $6.2 million, or $0.06 per diluted share of common stock was for the quarter, compared to net income of $188.3 million, or $1.67 per diluted share, for the third quarter of 2008.The third-quarter 2009 results represent a $53.4 million improvement over the second quarter of 2009, net loss of $47.2 million, or $0.43 per diluted share.

Net sales for the quarter were $1,041.1 million on shipments of 1,047,800 tons, compared to sales of $2,157.6 million on shipments of 1,476,300 tons for the year-ago quarter. The average selling price for the third quarter of 2009 was $994 per ton, a 7% decrease from the $1,072 per-ton price in the second quarter of 2009, and approximately 32% lower than the $1,462 per-ton average price realized in the third quarter of 2008.


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Source: Seeking Alpha (Oct 28, 2009 - 11:25 AM EDT)



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