Alcoa back in the black in Q4, appoints new CFO

US-based aluminum giant Alcoa (NYSE: AA) reported a net profit of US$242mn for the fourth quarter of 2012, compared to a US$191mn net loss in 4Q11, the company said in a statement. Sales in the quarter totaled US$5.898bn, down 2% from US$5.989bn in the fourth quarter of 2011. The company saw cash from operations of US$933mn and positive free cash flow of US$535mn in the quarter, compared to US$1.143bn and US$656mn respectively in 4Q11. Adjusted Ebitda for Q4 was US$597mn, up from US$445mn in the year-ago quarter. Special items in fourth quarter 2012 delivered a net gain of US$178mn, primarily associated with the closing of the Tapoco hydroelectric project asset sale in the US, in addition to US$78mn in gains associated with income tax items. In related news, Alco announced the appointment of William F. Oplinger as CFO effective April 1. He will succeed Charles D. McLane, Jr., who plans to retire after 40 years with the company. Oplinger has been COO of Alcoa's Global Primary Products business unit since December 2011 and also serves on Alcoa's executive council. In Latin America and the Caribbean, Alcoa has assets in Chile, Peru, Argentina, Colombia, Jamaica, Suriname, Trinidad & Tobago and Brazil, the last of which represents the bulk of its earnings from the region. Use this link to see Alcoa's statement.