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Gold/Mining/Energy : Cleveland-Cliffs
CLF 13.75-0.9%9:30 AM EST
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From: Fuzzy7/28/2016 8:24:06 AM
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July 28, 2016 /PRNewswire/ -- Cliffs Natural Resources Inc. ( CLF) today reported second-quarter results for the period ended June 30, 2016. Second-quarter 2016 consolidated revenues of $496 million were relatively flat compared to the prior year's second-quarter revenues of $498 million. Cost of goods sold decreased by 8 percent to $405 million compared to $441 million reported in the second quarter of 2015.For the second quarter of 2016, the Company recorded net income from continuing operations of $30 million compared to a net loss from continuing operations of $38 million recorded in the prior-year quarter. The Company recorded earnings attributable to Cliffs shareholders from continuing operations of $0.07 per diluted common share, compared to a net loss attributable to Cliffs shareholders from continuing operations of $0.28 per diluted common share recorded in the second quarter of 2015.
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