Post by ukipa on Feb 28, 2013 19:08:19 GMT 4
Vale Had Wider-Than-Forecast Loss on $5.7 Billion Writedowns
Vale SA (VALE), the world’s largest iron- ore producer, reported a record quarterly loss that was wider than analyst forecasts after writing down the value of some nickel, coal and steel assets amid lower commodity prices.
Vale posted a fourth-quarter net loss of $2.65 billion, or 51 cents a share, compared with a profit of $4.67 billion, or 91 cents, a year earlier, the Rio de Janeiro-based company said late yesterday in a statement. Adjusted earnings before interest, taxes, depreciation and amortization declined 41 percent to $4.39 billion, missing a $4.79 billion average estimate by 14 analysts compiled by Bloomberg.
Read full article...
www.bloomberg.com/news/2013-02-27/vale-posts-record-quarterly-loss-after-5-66-billion-writedowns.html
Best wishes to one and all.
Tony Enriquez
The AE Private Investors Group / Ukipa Holdings
Vale SA (VALE), the world’s largest iron- ore producer, reported a record quarterly loss that was wider than analyst forecasts after writing down the value of some nickel, coal and steel assets amid lower commodity prices.
Vale posted a fourth-quarter net loss of $2.65 billion, or 51 cents a share, compared with a profit of $4.67 billion, or 91 cents, a year earlier, the Rio de Janeiro-based company said late yesterday in a statement. Adjusted earnings before interest, taxes, depreciation and amortization declined 41 percent to $4.39 billion, missing a $4.79 billion average estimate by 14 analysts compiled by Bloomberg.
Read full article...
www.bloomberg.com/news/2013-02-27/vale-posts-record-quarterly-loss-after-5-66-billion-writedowns.html
Best wishes to one and all.
Tony Enriquez
The AE Private Investors Group / Ukipa Holdings