Century Reports First Quarter 2010 Earnings

Century Aluminum Company (NASDAQ: CENX) announced net income of $6.3 million for the first quarter of 2010. Cost of sales for the quarter includes a $15.5 million net after-tax charge for the portion of power costs at Hawesville payable by the previous power supplier per the terms of the power agreement.

The press release is quoted as saying:

For the first quarter of 2009, Century reported a net loss of $114.6 million ($1.77 per basic and diluted share). These results were negatively impacted by a charge of $24.3 million ($0.38 per basic and diluted share) related to employee separation expenses, supplier payments and other costs resulting from production curtailments at the Ravenswood, WV and Hawesville, KY primary aluminum smelters.

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