AK Steel Announces Earnings

AK Steel (AKS) announced that it lost $61 million, or 55 cents per share, during the third quarter due to lower sales and shipments. The company also said it expects a net loss for the fourth quarter. The average selling price of $1,073 per ton in the quarter was 7 percent lower than the previous and the third quarter of 2011. Net sales for the third quarter of 2012 were $1.463 billion on shipments of 1,363,500 tons, compared to net sales of $1.585 billion on shipments of 1,368,800 tons for the ...