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High Costs Weigh on Alcoa Profit

Tue, 01/10/2006 - 3:00am
Lisa Arrigo

Alcoa Inc., considered the world's largest aluminum maker, said its fourth-quarter profit plunged 16 percent as higher costs and disruptions at some plants eroded the benefit of higher metal prices, reports today's Union-Tribune. The Pittsburgh-based company's shares plunged in after-hour trading.

Alcoa reported yesterday that its net income fell to $224 million, or 26 cents a share, from $268 million, or 30 cents, a year ago. Sales rose 12 percent to $6.67 billion.

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