U.S, And AK Steel Posts Losses

NEW YORK (In Picture U.S. Steel Headquarters in Pittsburgh) - U.S. Steel the largest steelmaker in the United States by sales continued to post losses. The company posted its 8th straight quarterly loss when it said it lost $249 million or $1.74 a share in Q4.

Fourth quarter net sales of $4.3 billion decreased 4 percent from third quarter 2010. For the full year the company lost $919 million an improvement from 2009. The flat-rolled segment reported a loss of $156 million in the quarter. In the next quarter John Surma the CEO of U.S. Steel expects this segment to improve. U.S. Steel Europe posted a loss of $39 million a decrease from the loss of $25 million in the last quarter. The tubular division made a profit of $96 million down from $112 million in the quarter before. The company's results were also affected by a foreign currency loss of 23 cents. Retirement and pension expenses are expected to rise in 2011 by approximately $30 million per quarter. U.S. Steel Report.

AK Steel, the Ohio based steelmaker reported a net loss of $98.3 million, or $0.89 per share. The company's cash and accounts receivable dropped to near their accounts payable indicating a slight liquidity problem. AK Steel expect to have an operation break even in Q1 2011. AK Steel Report.

AK Shares are soaring higher up by nearly 3%, on poor results as investors look to the future. U.S. Steel shares are down 1.5% on the quarterly loss.