Alcoa profit rises

Alcoa Inc. kicked off the 2007 earnings season after the close of the stock market Tuesday by reporting that its first quarter profit rose to $662 million, or 75 cents per diluted share, from $608 million, or 69 cents a share, a year ago.

     New York-based Alcoa, which has about 1,700 employees in Pittsburgh, said revenue rose 11 percent in the quarter to $7.9 billion.

    Analysts polled by Thomson Financial had been expecting earnings of 76 cents a share on revenue of $7.6 billion.

   Alcoa attributed the profit increase to higher metal prices and sales in the aerospace, building and construction and industrial product markets.

    Published April 10, 2007 by Pittsburgh Business Times

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