Business News Americas reported that Peruvian steelmaker Aceros Arequipa posted a net loss of PEN 10.5 million (USD 3.64 million) for the fourth quarter of 2009, a drastic improvement from the PEN 198 moillion net loss the company reported in 4Q08.

Aceros Arequipa's gross margin for the quarter was roughly 10%, an improvement from the 6.0% gross margin registered a year earlier thanks largely to the reduction of high-cost product and input inventories.

Net sales were relatively flat at PEN 388 million last quarter, dipping from PEN 391 million YoY. Operating losses came in at PEN 1.41 million in Q4 of 2009 versus a loss of PEN 168 million in the year ago quarter.

Full year 2009 brought a net loss of PEN 35.6 million compared with a profit of PEN 112 million in 2008, while net revenue slipped to PEN 1.66 billion from PEN 2.16 billion.

Aceros Arequipa did not provide production or sales volume information for Q4 or 2009.

The steelmaker has capacity of 530,000 tonnes per year and produces corrugated iron, wire, profiles and other steel products for the construction sector.

(Sourced from BNAmericas)