(MENAFN- ProactiveInvestors - Australia) Aluminum heavyweight Alcoa (ASX: AAI) has today reported an income from continuing operations of $242 million for the December quarter 2012, shrugging off earlier losses.
The positive result was driven by record profitability in the company's mid and downstream businesses.
Excluding the net positive impact of special items, income from continuing operations was $64 million, or $0.06 per share.
This compares to a loss from continuing operations of $143 million in the September quarter 2012, and a loss of $193 million in the December quarter 2011.
In the fourth quarter 2012, Alcoa generated revenues of $5.9 billion, up 1% sequentially but down 2% from the fourth quarter 2011.
Sequentially, the higher fourth quarter revenues were primarily due to improved realised pricing for aluminum, which was up 5%.
Cash from operations came in at $933 million, up $670 million from the third quarter 2012, while free cash flow was $535 million.
Alcoa reported strong liquidity with cash on hand of $1.9 billion.
In terms of records, the company witnessed a record low 24 days in working capital and record results from its Global Rolled Products and Engineered Products and Solutions divisions.
Alcoa is forecasting 7% growth in global aluminum demand in 2013.
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