Nucor records net loss in 4th quarter |
Written by David Horn
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Thursday, 27 January 2011 11:37 |
(CHARLOTTE) -- Nucor Corporation reported a consolidated net loss of $11.4 million or $0.04 per diluted share, for the fourth quarter of 2010. This compared to net earnings of $58.9 million, or $0.18 per diluted share, in the fourth quarter of 2009.
For the full year of 2010, the Charlotte-based steel maker reported consolidated net earnings of $134.1 million, or $0.42 per diluted share, compared with a net loss of $293.6 million or $0.94 per diluted share for 2009.
In a statement released on Thursday, Nucor said its fourth quarter results were reduced by a charge of $10 million to close facilities that were part of the HIsmelt® joint venture and the termination of the venture. The company also said fourth quarter results were reduced by pre-operating and start-up costs of new facilities. An increase in fourth quarter energy costs was also sited among other factors.
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