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Article: Cliffs Natural Resources Inc. Reports Third-Quarter 2009 Earnings.
- Article from:
- China Weekly News
- Article date:
- November 10, 2009
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Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) reported third-quarter results for the period ended Sept. 30, 2009. Consolidated revenues in the quarter were $666.4 million, down 44% from $1.2 billion in the same quarter last year. The decrease in revenues was driven by lower volume in Cliffs' North American businesses and lower year-over-year pricing for iron ore. While year-over-year comparables are down, Cliffs indicated that, during the third quarter, the Company noted a marked improvement in business conditions and an improved outlook compared with the first half of 2009.
Joseph A. Carrabba, Cliffs' chairman, president and chief executive officer, ...