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Alcoa posts a loss on charges and lower aluminum prices, expects demand to rise in 2012

SAN FRANCISCO (MarketWatch)
Aluminum maker Alcoa Inc. reported late Monday a fourth-quarter loss of $193 million, or 18 cents a share, sharply reversing a year-ago profit of $258 million, or 24 cents a share.
Excluding special items, the company lost $34 million, or 3 cents a share, in the latest quarter.
Revenue rose 6% to $5.99 billion from $5.65 billion a year earlier.
Analysts polled by FactSet Research were looking for a loss, on average, of 2 cents a share on $5.72 billion in revenue.
Alcoa CEO Klaus Kleinfeld cited weak demand, especially in Europe, for the weaker results but forecast a 7% increase in 2012 in global aluminum demand and a global deficit in primary aluminum supply.
Alcoa shares are down nearly 43% from where they were trading 12 months ago.

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