Kaiser Earnings Exceed 1995 Levels

Improved operations and higher prices for alumina and fabricated aluminum products boosted Kaiser Aluminum Corp.’s first-quarter 1996 earnings, compared with a year earlier.

But the Houston-based manufacturer, which operates two Spokane factories, said Monday that earnings were off from the fourth-quarter of 1995.

Kaiser reported net income of $9.9 million, or 11 cents per common share, for the first quarter of 1996, on sales of $531 million.

That compares with net income of $3.5 million, and a loss of 3 cents per common share after paying dividends to preferred stockholders, for the same quarter in 1995.

The company posted a profit of $21 million for the fourth quarter ended Dec. 31, 1995. Six weeks later, it offered up to $2.5 billion to acquire competitor Alumax Inc. of Georgia in a deal that was rejected.

Maxxam Inc., a Houston holding company with controlling interest in Kaiser, reported first-quarter profit of $5.8 million, compared with a loss of $1 million, or 11 cents per common share, a year ago.

, DataTimes