Joined Nov 11, 2007
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$VALE Posts a Monster Quarterly Loss

Vale SA (VALE), the world’s largest iron- ore producer, reported a record quarterly loss that was wider than analyst forecasts after writing down the value of some nickel, coal and steel assets amid lower commodity prices.

Vale posted a fourth-quarter net loss of $2.65 billion, or 51 cents a share, compared with a profit of $4.67 billion, or 91 cents, a year earlier, the Rio de Janeiro-based company said late yesterday in a statement. Adjusted earnings before interest, taxes, depreciation and amortization declined 41 percent to $4.39 billion, missing a $4.79 billion average estimate by 14 analysts compiled by Bloomberg….”

Full report

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