AK Steel posts $73M loss in 1Q

Business

Discussion

April 21, 2009

Anonymous The Daily Independent Tue Apr 21, 2009, 08:58 AM EDT

WEST CHESTER, Ohio — Steel maker AK Steel Holding Corp. says it posted a first-quarter loss compared with a year-earlier profit, hurt by the recession and declining orders from the auto industry.

The West Chester, Ohio-based company says its loss amounted to $73.4 million, or 67 cents per share due to diminishing orders for the metal used in cars, appliances and other products. AK Steel earned $101.1 million, or 90 cents a share, in the same period a year earlier.

Revenue dropped nearly 49 percent to $922.2 million.

Analyst surveyed by Thomson Reuters had expected a loss of 75 cents per share on revenue of $929.3 million.

Steel demand has plunged since late last year, when the global economic crisis undermined key customers in the auto, construction and machinery industries.

Text Only

Business

TIM PRESTON: Leftovers, small biz winners, pet spa
Tim Preston's weekly business column.

May 22, 2012
Tim Preston: Wings, wines, princesses and punks: 5/6/12
I always get into trouble when I start asking about who has “the best” of any particular thing to eat.

May 6, 2012
Investing in downtown
Perry Madden says he hopes to succeed in business while also helping to breathe new life into a few of downtown Ashland’s historic structures.

April 29, 2012
TIM PRESTON: Spiders, snakes, Sincerely Yours, music and taxi service
Tim Preston's weekly business column.

April 29, 2012
Tim Preston: Reptiles and arachnids, on consignment and safe rides: 4/29/12
A few months back I covered a Saturday story I wasn’t too excited about.

April 26, 2012
TIM PRESTON: Happy Hut, massages and Pure Pit
Tim Preston's weekly business column

April 23, 2012
TIM PRESTON: Great road burger, the ostrich approach, miners and artists
Tim Preston's weekly business column.

March 20, 2012
Homegrown success story
Mike Wheeler began his business with nothing more than a push mower and a weed trimmer.

March 19, 2012
TIM PRESTON: Chasing the sun, Angry Frenchman and lunch at the mall
Tim Preston's weekly business column.

March 11, 2012
TIM PRESTON: Spanish Grill, Fank's, Fat Patty's and more
Tim Preston's weekly business column.

February 26, 2012
More Business Headlines