Alcoa's Upward Earnings Trend Continues.PITTSBURGH--(BUSINESS WIRE)--July 7, 1995--Alcoa reported earnings of $219.4 million, or $1.23 per common share, for the second quarter of 1995 compared with earnings of $45.4 million, or 25 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , in the 1994 second quarter. For the first half of 1995, Alcoa Alcoa U.S. company, the world's largest producer of aluminum. Established in Pittsburgh, Pa., in 1888, it adopted the name Aluminum Co. of America in 1907. Alcoa introduced aluminum foil in 1910 and found uses for aluminum in the emerging aviation and automobile industries. had net income of $413.2 million, or $2.31 per share. For the first half of 1994, earnings before after-tax af·ter-tax also af·ter·tax adj. Relating to or being that which remains after payment, especially of income taxes: after-tax profits. charges were $55.0 million, or 30 cents per share. After the charges, the company reported a loss of $62.9 million, or 36 cents per share. Alcoa said that the 1995 results benefited from continued high operating efficiencies and better prices. Return on shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. for the 1995 first half, annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. , was 19.2%, compared with 3.0%, before charges, in the first half of 1994. Second quarter 1995 revenues were $3.1 billion, compared with revenues of $2.5 billion in the 1994 second quarter. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. , 1995 revenues were $6.1 billion compared with $4.7 billion for the 1994 first half. Aluminum shipments were 627,000 metric tons (mt) for the 1995 second quarter compared with 661,000 mt in the year-ago quarter. Shipments during the 1995 first half totaled 1,281,000 mt, compared with 1994 first half shipments of 1,261,000 mt. Alcoa is the world's largest producer of aluminum. The company has 169 operating and sales locations in 26 countries. Operating and financial data for Alcoa and its subsidiaries follow. Editors Note: 1994 per share amounts have been restated to reflect the two-for-one stock split in February 1995. CONTACT: Alcoa, Pittsburgh Editorial Contact: Alfred T. Posti, 412/553-4465 |
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