US Steel 4Q loss narrows, revenue rises 12 percent

PITTSBURGH (AP) ? U.S. Steel says its fourth-quarter loss narrowed, as strong demand for its pipes from the oil industry boosted its sales.

The company also says it expects first-quarter results to be improved from fourth-quarter levels.

U.S. Steel says it had a net loss of $226 million, or $1.57 per share, in the last three months of 2011, compared with a loss of $249 million, or $1.74 per share, in the same quarter in 2010.

Excluding charges including $51 million in losses tied to foreign currencies, the company says its adjusted loss is $164 million, or $1.14 per share. Analysts polled by FactSet expected a narrower loss of 85 cents per share.

Revenue is up 12 percent to $4.82 billion from $4.3 billion, while analysts expected $4.74 billion.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-01-31-Earns-US%20Steel/id-ce504bf2562248a6a18030fcd4febd25

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