Steel producer looks for silver lining.Algoma Steel ''See also Algoma (Disambiguation) Algoma Steel Corporation (TSX: AGA) was founded in 1902 by Francis Clergue, an American entrepreneur who had settled in Sault Ste. Marie, Ontario. Inc. posted $89.1 million profit for its first quarter, a drop from the $122 million posted in the fourth quarter of 2004, but significantly higher than the $22.1 million earned in Q1 of 2004. The company says high raw material costs, energy, pension and post-employment expenses factored into the decline. Lower earnings are expected in the second quarter due to higher iron ore costs and declining steel prices. The announcement comes on the heels of Algoma being named in Canadian Business Canadian Business is the longest-publishing business magazine in Canada. It was founded in 1928 as The Commerce of the Nation, the organ of the Canadian Chamber of Commerce. The magazine was renamed Canadian Business in 1933. magazine's Top 500 publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. issue for 2005 as having the fifth-best earnings per share growth, the sixth-best free cash flow per share Free Cash Flow per Share A measure of a company's financial flexibility. It is calculated as net income plus all non-cash expenses less dividends and capital expenditures. The total is then divided by the number of shares outstanding. and the sixth highest return on equity. |
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