Aleris' 2d-qtr. income falls on start-up costs, tax provisions

摘要

Aleris International Inc.'s net income fell nearly 40 percent year over year in the second quarter due to start-up expenses associated with its aerospace rolling mill in Zhcnjiang, China, and higher income tax provisions and unrealized hedge losses. Aleris reported net income of $34.1 million for the second quarter, down from $56.5 million in the second quarter of 2011. Net income for the first half of the year dropped 28 percent to $81.7 million from $113.8 million during the corresponding 2011 period.