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Siderar Posts 1Q Loss Of $90 Million

Stock quotes in this article: TX  

JEANNETTE NEUMANN

BUENOS AIRES, Argentina (AP) — Argentine steel maker Siderar reported its second straight quarterly loss on Monday as the global economic crisis continues to curb demand.

Siderar SA posted a 337 million peso ($90 million) net loss, or 97 cents per share, for the January-March period, compared to a profit of 566 million pesos, or 1.63 cents per share, in the first quarter of 2008.

Net sales fell 24 percent to 1.4 billion pesos ($368 million) during the same period, the company said in a letter to the Buenos Aires stock market. ...

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