Kaiser Posts Profit For First Quarter

Kaiser Aluminum Corp., Spokane’s largest manufacturer, Wednesday said it has returned to profitability, though not at levels enjoyed one year ago.

The Houston-based company, which employs 2,600 people to operate the Mead smelter and Trentwood rolling mill, posted a $2.6 million profit, or 1 cent per share, on sales of $547.4 million for the quarter ended March 31.

That compared with a $9.9 million profit, or 11 cents per share, for the same period in 1996.

But first-quarter results were an improvement from the fourth quarter of 1996, when the company reported a $3.3 million loss.

Kaiser officials said lower prices for alumina and fabricated aluminum products hurt the bottom line, though that was partially offset by a jump in shipments of primary aluminum and fabricated products.

Sales of primary aluminum, to which Mead contributes, rose 8 percent, from $119.1 million in the first quarter of 1996 to $129.2 million this year.

Sales of fabricated aluminum products, to which Trentwood contributes, jumped 10 percent, from $284.9 million to $314.4 million. , DataTimes