Alcoa narrows losses; sees demand

DENVER (AP) — Alcoa Inc. said Monday that it narrowed its first-quarter loss as demand for some aluminum products picked up and prices improved.

For the quarter that ended March 31, Alcoa reported a net loss of $201 million or 20 cents per share.

That compared with a net loss of $497 million, or 61 cents a share, a year ago, when the company was struggling with the impact of the recession.

Alcoa’s most recent results include $295 million, or 29 cents a share, in one-time charges related to the health care reform law and the closing of two smelters.

Revenue rose nearly 20 percent to $4.9 billion.

The aluminum manufacturing giant said it expects sales to improve with the growing popularity of fuel-efficient vehicles and sustainable products made with aluminum.

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