Good returns by Alcoa. Highlights:Costs cut by 12%Revenue down...

Good returns by Alcoa. Highlights:

Costs cut by 12%
Revenue down by 1.5%
Sales flat

Excluding extraordinary items, 6 cents a share profit on the same sales compared to a 3 cent per share loss a year ago.

Being able to cut costs by that magnitude is impressive. It is unlikely that Al prices will go lower, so being able to make a profit at the very bottom of the market is a great position to be in.