Century Reports 2006 Financial Results

   Century Aluminum Company today reported a net loss of $119.1 million ($3.67 per basic and diluted share) for the fourth quarter of 2006. Reported fourth quarter results were impacted by a net after-tax charge of $174.3 million ($5.37 per basic share) for mark-to-market adjustments on forward contracts that do not qualify for cash flow hedge accounting and by a gain on the sale of surplus land. The dilutive effect of the convertible notes, options and performance shares would reduce Basic EPS by $0.06 per share.

For 2006, Century reported a net loss of $41.0 million ($1.26 per basic and diluted share). Total year results include a net after-tax charge of $241.7 million ($7.46 per basic share) for mark-to-market adjustments on forward contracts that do not qualify for cash flow hedge accounting and by a gain on the sale of surplus land. The dilutive effect of the convertible notes, options and performance shares would reduce Basic EPS by $0.17 per share.

For 2005, the company reported a net loss of $116.3 million ($3.62 per basic and diluted share). Reported results for this year were impacted by an after-tax charge of $198.2 million ($6.17 per basic share) for mark-to-market adjustments on forward contracts that do not qualify for cash flow hedge accounting. The dilutive effect of the options and performance shares would reduce Basic EPS by $0.01 per share.

Sales for the fourth quarter of 2006 were $424.4 million compared with $292.9 million for the fourth quarter of 2005. Shipments of primary aluminum for the 2006 fourth quarter were 181,675 tons, compared with 156,015 tons shipped in the year-ago quarter.

Sales for 2006 were $1.6 billion compared with $1.1 billion for 2005, and total 2006 primary aluminum shipments of 679,939 tons compared with 615,842 tons shipped in 2005.

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