Usinas Q4 Net Profit Declines 73%

Brazil's Usinas Siderurgicas de Minas Gerais SA (Usiminas) reported a drop in its fourth-quarter profit. Usiminas' quarterly net profit fell to 77 million Brazilian reais ($43.7 million), versus BRL280 million, in the year-earlier period. Its net revenue declined to BRL2.81 billion from BRL3.1 billion. Usiminas' earnings before interest, taxes, depreciation and amortization (EBITDA) fell to BRL218 million from BRL332 million.