Stelco announces Q1 financial results
Hamilton, Canada based steel producer Stelco Inc has recently announced financial results of first quarter, ended on March 31, 2004. In first quarter of 2004, the company reported net loss of $36 million against net loss of $44 million recorded in the first quarter of 2003. For the year ended on December 31, 2003, the company reported net loss of $563 million, against net earnings of $1 million recorded in 2002. In the first quarter of 2004, the company produced 1'366'000 tons of semi-finished products against 1'329'000 tons recorded in the first quarter of 2003. For the first quarter of 2004, the company reported its net sales as $774 million.