Marquette, MI – (Great Lakes Radio News) – Cliffs Natural Resources is reporting fourth-quarter and full-year losses for 2014.
In a statement released yesterday, the company said fourth-quarter 2014 consolidated revenues of $1.3 billion marked a decrease of $231 million, or 15 percent, over last year.
This decrease was primarily driven by lower revenues from their Asia Pacific and Eastern Canadian iron ore segments.
Full-year 2014 revenues were $4.6 billion and cost of goods sold was $4.2 billion.
For the full year, Cliffs recorded a net loss of $7.2 billion with an adjusted net income of $259 million.