Alcan

(AL) - Get Report

Monday beat fourth-quarter earnings estimates despite the weak dollar.

The Canadian aluminum company had net income of $143 million, or 44 cents a share, vs. $16 million, or 8 cents a share, a year ago.

Based on operating earnings, which exclude exchange rate factors and other items, Alcan had a profit of $135 million, or 42 cents a share, vs. $124 million, or 38 cents a share, in the prior-year period. The consensus estimate was 40 cents a share, according to Thomson First Call.

Otherwise, the company said the dollar's decline against the Canadian dollar resulted in currency translation losses of $56 million. "Benefits from higher metal prices were fully offset by the negative impact of the continuing decline of the U.S. dollar," the company said.

Revenue rose 12.9% from $3.11 billion to $3.5 billion.

Fourth-quarter income from continuing operations was $129 million, or 40 cents a share, up from $26 million, or 8 per cents a share, a year earlier.

The fourth-quarter results do not include Alcan's takeover of French rival

Pechiney

last year.