Alcoa (AA) after the bell reported a surpising 2009
third quarter net income of $73 million or $0.08 per share share
against forecasts of a loss of $0.09 per share.
This compares to a net loss of $454 million or $0.47 per share in
the second quarter of this year and net income of $268 million, or
$0.33 per share in the thrd quarter of last year.
Income from continuing operations was $73 million, or $0.07 per
diluted share, compared to a loss from continuing operations of $312
million, or $0.32 per share, in the second quarter 2009 and income from
continuing operations in the third quarter of 2008 of $306 million, or
$0.37 per share.
Excluding restructuring and special items, income for the third quarter 2009 was $39 million, or $0.04 per share.
Revenue for the period was $4.6 billion, compared to $4.2 billion in
the second quarter of 2009 and revenue of $7 billion in the third
quarter of 2008.
The company was helped by price increases in aluminum from $1,667 per metric tone, to $1,972 in the third quarter.
Alcoa (AA) is up $0.85 to $15.05 or 5.99% in after hours trading on the news.
