This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Gerdau Ameristeel loses $25.36-million (U.S.) in Q3 2009-11-05 14:57 ET - News Release Mr. Mario Longhi reports GERDAU AMERISTEEL ANNOUNCES 2009 THIRD QUARTER RESULTS Gerdau Ameristeel Corp. had a net loss of $25.4-million (six cents per share fully diluted) for the three months ended Sept. 30, 2009, in comparison with net income of $316.9-million (73 cents per share fully diluted) for the three months ended Sept. 30, 2008. Included in these results is a $78.5-million pretax charge related to actions announced earlier this year to stop production at certain of the company's steel mills and a pretax charge of $11.9-million related to the early extinguishment of certain debt obligations. Excluding these charges, the non-GAAP (generally accepted accounting principles) adjusted net income was $33.5-million (eight cents per share fully diluted).
For the nine months ended Sept. 30, 2009, the company incurred a net loss of $115.6-million (27 cents per share fully diluted), compared with net income of $742.0-million ($1.71 per share fully diluted) for the nine months ended Sept. 30, 2008. The non-GAAP adjusted net loss for the nine months ended Sept. 30, 2009, excluding the charges described above, was $30.0-million (seven cents per share fully diluted).
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