Earnings Report: Alcoa Announces Fourth Quarter Loss on Charges Associated with Cutting High-Cost Smelting Capacity, Market Weakness

NEW YORK, Jan 09, 2012 (BUSINESS WIRE) -- --4Q 2011 Highlights

--Loss from continuing operations of $193 million, or $0.18 per share; excluding special items, loss from continuing operations of $34 million, or $0.03 per share

--Revenue of $6 billion, down 7 percent sequentially, up 6 percent from 4Q 2010

--Cash from operations of $1.14 billion, up $653 million from 3Q 2011

--Record low days working capital

--Free cash flow of $656 million

--Cash on hand of $1.9 billion

--531,000 metric tons of capacity closed or curtailed to improve competitive position

--Forecasting 7 percent growth in global aluminum demand and a global aluminum supply deficit in 2012

--2011 Full-Year Highlights

--Revenue of $25 billion, up 19 percent over 2010

--Income from continuing operations of $614 million, or $0.55 per share, more than double 2010 results; excluding special items, income from continuing operations of $812 million, or $0.72 per share

--Cash from operations of $2.2 billion

--Free cash flow of $906 million

--Debt-to-capital ratio 35 percent

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