logo
Share SHARE
FONT-SIZE Plus   Neg

Cliffs Natural Resources Q1 Profit Declines

Cliffs Natural Resources Inc. Co (CLF: Quote) reported that its first-quarter net income attributable to shareholders was $375.8 million, or $2.63 per share, compared to $423.4 million, or $3.11 per share in the comparable quarter last year.

Consolidated first quarter revenues were $1.3 billion, up from $1.2 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.10 per share on revenues of $1.30 billion for the quarter. Analysts' estimates typically exclude special items.

Cliffs maintained its previously disclosed 2012 capital expenditures budget of approximately $1 billion, comprised of approximately $300 million in sustaining capital and $700 million in growth and productivity-improvement capital.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Israeli generic drug maker Teva Pharmaceutical Industries (TEVA) on Tuesday offered to buy smaller Dutch rival Mylan N.V. (MYL) for $82 per share in cash and stock, or about $40 billion, in a bid to further tighten its grip in the global generic space. Twitter is expanding its direct messaging feature to enable users to communicate privately with a single person or with a group of people, even if they are not following each other. High-flying Netflix may have yet another hit on its hands, as the company has ordered a spin-off of the hugely popular Full House series. Fuller House will star Candace Cameron-Bure, Jodie Sweetin and Andrea Barber, who played sisters D.J. Tanner and Stephanie Tanner, and D.J.'s bestie Kimmy Gibbler,...
comments powered by Disqus
Follow RTT