Inco cutbacks expected to stem the flow of rising costs.Inco Limited's third-quarter earnings nosedived to $4.5 million U.S., or three cents per common share, from $97 million U.S., or 92 cents per common share, in the third quarter of 1990. The results, which included $18.8 million for the estimated costs associated with the voluntary early retirement incentive programs at the company's Sudbury operations, reflected a combination of weaker nickel nickel, metallic chemical element; symbol Ni; at. no. 28; at. wt. 58.69; m.p. about 1,453°C;; b.p. about 2,732°C;; sp. gr. 8.902 at 25°C;; valence 0, +1, +2, +3, or +4. markets and increased unit production costs at Inco's Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. operations. Production cutbacks announced by the company in September should reduce nickel production by about 10 million pounds during the balance of 1991. The company incurred a cash shortfall Shortfall The amount by which the capital required to fulfill a financial obligation exceeds available capital. Notes: Shortfall risk is often combated with an efficient hedging strategy created by a fund, group, institution, or individual. , before financing activities, of $17 million in the third quarter, bringing the shortfall for the first nine months to $152 million. As of Sept. 30 Inco had a total debt of $1.25 million and its debt-to-equity ratio debt-to-equity ratio The relationship between long-term funds provided by creditors and funds provided by owners. A firm's debt-to-equity ratio is calculated by dividing long-term debt by owners' equity. Both items are shown on the balance sheet. was 42-to-58. |
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