Cliffs Revenue Declines

Filed under: U.P. News Updates |

Great Lakes Radio News UpdateMARQUETTE, MI – (Great Lakes Radio News)Cliffs Natural Resources is reporting a decline in revenues for the second-quarter of the year.

Consolidated revenues of $1.5 billion decreased $91 million, or 6%, from the previous year. The lower revenues were driven by decrease in global iron ore pricing and an increase in cost of goods, primarily driven by higher sales volumes in North American Coal and U.S. Iron Ore.

Operating income for the second quarter of 2013 also decreased 28% to $262 million. Second-quarter 2013 results for the firm included an income tax expense of $9 million versus $42 million reported in the previous year.

Great Lakes Radio – Delivering reliable and accurate local news to you on air, online and on demand

Share Sunny 101.9 WKQS Content with World!
  • Print
  • Digg
  • StumbleUpon
  • del.icio.us
  • Facebook
  • Yahoo! Buzz
  • Twitter
  • Google Bookmarks
  • Add to favorites
  • BarraPunto
  • Bitacoras.com
  • Fark
  • LinkedIn
  • Live
  • Mixx
  • MySpace
  • PDF
  • Reddit
  • RSS
  • Slashdot
  • Tumblr

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>