Alcoa (AA) kicked off the earnings season and was rewarded with shares trading up over 3% after hours.
Revenues for 2007 were $30.7 billion, compared to $30.4 billion in 2006. Annual income from continuing operations rose to $2.6 billion, or $2.95 per diluted share, for 2007, a 19 percent increase compared to $2.2 billion, or $2.47, in 2006. And, cash from operations for 2007 increased 21 percent to more than $3.1 billion from $2.6 billion in 2006.
Revenues for the 2007 fourth quarter were $7.4 billion, compared to $7.8 billion a year ago. Net income for the fourth quarter 2007 was $632 million, or $0.75, which includes the restructuring adjustment and the benefit from the agreement to sell the company’s packaging and consumer business. Net income for the fourth quarter 2006 was $359 million, or $0.41.
Douglas A. McIntyre
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