AK Steel reports 4Q loss

AK Steel’s Research and Innovation Center, a $36 million, 135,000-square-foot facility in Middletown, is slated to open this year. NICK GRAHAM/STAFF

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AK Steel’s Research and Innovation Center, a $36 million, 135,000-square-foot facility in Middletown, is slated to open this year. NICK GRAHAM/STAFF

AK Steel Holding Corp. on Tuesday reported a loss of $62.4 million in its fourth quarter.

The West Chester Twp.-based company said it had a loss of 22 cents per share. Earnings, adjusted for non-recurring costs, came to 25 cents per share.

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The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The steel producer posted revenue of $1.42 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $1.43 billion.

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For the year, the company reported that its loss narrowed to $7.8 million, or 3 cents per share. Revenue was reported as $5.88 billion.

AK Steel shares have dropped 9 percent since the beginning of the year. The stock has more than quadrupled in the last 12 months.

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