SOURCE: Industrial Info Resources

Industrial Info Resources

April 28, 2010 05:20 ET

U.S. Steel Strengthens as Losses Level Off, Sees Profits in Future, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - April 28, 2010) -  Researched by Industrial Info Resources (Sugar Land, Texas) -- International steel giant United States Steel Corporation (NYSE: X) (Pittsburgh, Pennsylvania) reported lower-than-expected losses for the first quarter of 2010 and expects to return to profit in all major segments in the second quarter. The company recorded a net income loss of $157 million for the quarter, compared with a $439 million loss in the same period last year. U.S. Steel Chairman and Chief Executive Officer John P. Surma cited an overall improvement in business conditions and a return to profitability in the European segment as reasons for the upbeat results.

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