FOOTHILL RANCH, Calif. (AP) - Aluminum products maker Kaiser Aluminum Corp. said Tuesday its third-quarter profit fell 14 percent as an increase in costs outweighed revenue growth.
Kaiser, which emerged from Chapter 11 bankruptcy protection in July, earned $14.3 million, or 72 cents per share, compared with $16.6 million, or 21 cents per share, for the same quarter in 2005.
The 2006 quarter's results are based on about 20 million outstanding shares, while the 2005 period's results are based on about 79.7 million.
Revenue rose to $331.4 million from $271.6 million, while total costs and expenses rose to $309.7 million from $251.9 million in the year-ago period.
The 2006 quarter's results included a $3.1 billion non-cash gain related to its reorganization plan and fresh-start accounting.
Kaiser shares rose $1.11, or 2.3 percent, to $50.05 in afternoon trading on the Nasdaq.
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