Alcoa Inc. Profit $242 million in Fourth-Quarter

Alcoa Inc. (AA: news, chart, profile) reported late Tuesday a fourth-quarter profit of $242 million, or 21 cents a share, reversing a year-ago loss of $193 million. Excluding one-time items, the largest U.S. aluminum producer earned $64 million, or 6 cents a share, reversing a year-ago loss of 3 cents a share. Revenue for the quarter fell 2% to $5.90 billion from $5.99 billion. Analysts surveyed by FactSet, who typically exclude one-time items, had been looking for earnings of 6 cents a share on $5.58 billion in revenue. Alcoa said it sees 7% aluminum demand growth in 2013. Alcoa shares rose as much as 2.3% to $9.29 on the report in after-hours trade. 

Source : Marketwatch.com