Cliffs Natural Resources Declares Loss For 2014

Filed under: U.P. News Updates |
Cliffs Natural Resources

Cliffs Natural Resources

Marquette, MI – (Great Lakes Radio News) – Cliffs Natural Resources is reporting fourth-quarter and full-year losses for 2014.

In a statement released yesterday, the company said fourth-quarter 2014 consolidated revenues of $1.3 billion marked a decrease of $231 million, or 15 percent, over last year.

This decrease was primarily driven by lower revenues from their Asia Pacific and Eastern Canadian iron ore segments.

Full-year 2014 revenues were $4.6 billion and cost of goods sold was $4.2 billion.

For the full year, Cliffs recorded a net loss of $7.2 billion with an adjusted net income of $259 million.

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