Alcoa Profit Falls 7.9% on Costs, Weak Dollar

Alcoa Inc., the world’s biggest aluminum maker, said fourth-quarter profit fell 7.9% because of costs to sell some businesses and the weaker U.S. dollar.

Net income was $268 million, or 30 cents a share, down from $291 million, or 33 cents, in the same quarter a year earlier. Sales rose 12% to $6.04 billion as aluminum prices reached a nine-year high, Pittsburgh-based Alcoa said. It is the company’s fourth straight quarter of 10% or greater sales growth, not seen since the four quarters through March 2001.

Alcoa shares fell 22 cents to $30.47 on the New York Stock Exchange before the results were reported. The stock slipped as low as $30.02 in after-hours trading.