Bethlehem Steel Corp. reported that its second-quarter...
Bethlehem Steel Corp. reported that its second-quarter loss widened from a year earlier and that it will lose more money in the third quarter, partly due to rising steel imports.
For the quarter, the Bethlehem, Pa.-based steelmaker said it lost $64 million, equal to 92 cents a share, contrasted with a smaller loss of $29 million, or 46 cents a share, a year earlier. It reported sales of $1 billion, down from $1.12 billion in the second quarter of 1991.
Bethlehem said its steel shipments in the second quarter were 2% higher than a year ago, but said the increase would have been larger except for what it called “unfairly traded” imported steel. It said its results were also hurt by higher labor costs.