Aluminum Co. of America announced that first-quarter...
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Aluminum Co. of America announced that first-quarter earnings dropped more than 21%, largely because of lower prices.
Alcoa said its earnings were $76 million, or 89 cents per share, and included $8 million from the sale of investments in Venezuela. The company earned $97 million, or $1.14 per share, in the first quarter of 1991.
Alcoa said the earnings decline reflected lower prices for alumina, ingot and most fabricated products.
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