WASHINGTON (dpa-AFX) - United States Steel Corp. (X) reported a first-quarter net loss of $73 million or $0.51 per share, compared to a loss of $219 million or $1.52 per share last year. Net Sales decreased to $4.60 billion from $5.17 billion last year.
Adjusted net loss was $51 million, or $0.35 per share, excluding an after-tax charge of $22 million, or $0.16 per share, related to repurchases of $542 million principal amount of 4.00% Senior Convertible Notes due 2014, reducing the outstanding principal amount for these notes to $321 million.
On average, 16 analysts polled by Thomson Reuters expected the company to report a loss of $0.19 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $4.66 billion for the quarter.
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