Cliffs Natural Resources Inc. Reports Third-Quarter 2009 Earnings.
Business Wire › October 29, 2009
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Cliffs Natural Resources Inc. Reports Third-Quarter 2009 Earnings.
* Company Reports $666 Million in Revenue and Net Income of $0.45 Per Diluted Share, Notes Significantly Improving Operations and Business Outlook
* North American Iron Ore Ships 5.5 Million Tons in Quarter, Increases Full-Year Expected Sales Volume to 17.4 Million Tons * Asia Pacific Iron Ore Ships 2.6 Million Tonnes in Quarter, Expects Record Volume of 8.5 Million Tonnes in 2009 * Company Generates Nearly $155 Million in Cash from Operations During Quarter CLEVELAND -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today reported third-quarter results for the period ended Sept. 30, 2009. Consolidated revenues in the quarter were $666.4 million, down 44% from $1.2 billion in the same quarter last year. The decrease in revenues was driven by lower volume in Cliffs' North American businesses and lower year-over-year pricing for iron ore. While year-over-year comparables are down, Cliffs indicated that, during the third quarter, the Company noted a marked im...See the full content of this document
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