WASHINGTON (dpa-AFX) - Kaiser Aluminum Corporation (KALU) reported a first-quarter net loss of $292.2 million or $16.85 per share, compared to net income of $15.8 million or $0.85 per share, prior year. The company's net loss reflects a $308 million after-tax, non-cash, non-run-rate charge associated with the termination of defined benefit accounting and removal of the assets and liabilities related to the ongoing union voluntary employee beneficiary association from the company's consolidated balance sheet.
Excluding the impact of non-run-rate items, adjusted net income was $18 million, or $1.01 per share, for the first quarter 2015.
On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $1.03 for the quarter. Analysts' estimates typically exclude special items.
Net sales increased to $371.7 million from $335.1 million last year. Analysts expected revenue of $352.68 million for the quarter.
The company said, overall, its outlook for 2015 is unchanged.
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