Century Aluminum's fourth-quarter loss widens

Friday, Feb 20, 2009
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* Q4 loss per share $14.27 * Q4 sales $402.2 million versus $432.1 million * Results include charges totaling $673 million NEW YORK, Feb 19 (Reuters) - Century Aluminum Co (CENX.O) said on Thursday its fourth-quarter loss widened on big charges for goodwill impairment, taxes and an inventory write-down on hedging. The net loss was $700.2 million, or $14.27 per share, compared with a loss of $112.3 million, or $2.74 per share, in the same quarter of 2007, the Monterey, California-based company said. Excluding the charges totaling $673.6 million, or $13.73 per share, the loss was 54 cents. Revenue dropped to $402.2 million from $432.1 million, as the price of aluminum plummeted. Analysts on average were expecting a loss of 54 cents and revenue of $402.23 million. London Metal Exchange benchmark three-month aluminum prices MAL3 have tumbled off a record high of $3,375 per tonne last July to around $1,330. On Tuesday, Kaiser Aluminum (KALU.O) posted a fourth-quarter loss, which it attributed largely to declining production and one-time charges. And last month, Alcoa Inc(AA.N) reported a fourth-quarter loss, its first in six years.

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