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Middletown, Ohio-Based Steel Maker Reports $560 Million Loss in 2003.
Knight Ridder/Tribune Business News, January, 2004
By Thomas Gnau, Middletown Journal, Ohio Knight Ridder/Tribune Business News
Jan. 31--AK Steel Corp. reported Friday a net loss of $163.9 million, or $1.51 per share of common stock for the fourth quarter 2003 and a net loss of $560.4 million, or $5.17 per share, for the full year.
The full year's loss in 2003 exceeded the net loss the company saw in 2002, which was $502.4 million, or $4.67 per share.
But the quarterly loss this year was less than the net loss of $489.7 million the company reported for the fourth quarter in 2002.
The Middletown-based steelmaker pointed in a statement to non-cash charges required in its "unique method of accounting for its benefit plans" as contributing to the net loss. Charges of $240.1...
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