AK Steel Holding Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012
For the year, the company reported net loss of $998.6 million and net loss attributable to the company was $1,027.3 million or $9.06 per basic and diluted share on net sales of $5,933.7 million against net loss of $160.1 million and net loss attributable to the company was $155.6 million or $1.41 per basic and diluted share on net sales of $6,468.0 million for the same period a year ago. Operating loss was $128.1 million compared to $201.3 million a year ago. Loss before income taxes was $208.6 million compared to $254.1 million a year ago. Net cash flows used in operating activities was $270.8 million compared to $180.5 million a year ago. Capital investments were $45.5 million compared to $101.1 million a year ago. EBITDA was $83.9 million compared to LBITDA was $8.0 million a year ago. Adjusted EBITDA was $181.2 million compared to $265.7 million a year ago. Adjusted net loss attributable to the company was $64.4 million. Adjusted basic and diluted loss per share was $0.57. Earnings for 2012 were negatively affected compared to 2011 by the decrease in shipments and spot market selling prices along with higher coke costs.