Noranda Aluminum Holding Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported sales of $345.9 million compared to $352.0 million a year ago. Sequentially (comparing second quarter 2014 to first quarter 2014), sales increased $34.3 million, or 11%. Approximately $24.2 million of this revenue improvement was due to seasonally higher external shipments of primary and flat-rolled aluminum products. The remaining increase was largely due to a $0.04 per pound sequential improvement in the realized Midwest Transaction Price for primary and flat-rolled aluminum products, driven by modest improvements in both the LME aluminum price and Midwest Premium. Operating income was $2.7 million compared to operating loss of $3.7 million a year ago. Loss before income taxes was $10.0 million compared to $18.9 million a year ago. Net loss was $7.6 million or $0.11 per basic and diluted share, compared to $12.3 million or $0.18 per basic and diluted share, a year ago. Cash provided by operating activities 2.3 million compared to $16.8 million a year ago. Capital expenditures were $18.0 million compared to $20.6 million a year ago. Adjusted EBITDA was $30.4 million compared to $25.0 million a year ago.

For the year to date, the company reported sales of $657.5 million compared to $690.4 million a year ago. Operating loss was $8.4 million compared to operating income of $4.5 million a year ago. Loss before income taxes was $33.9 million compared to $17.9 million a year ago. Net loss was $24.4 million or $0.36 per basic and diluted share, compared to $11.7 million or $0.17 per basic and diluted share, a year ago. Cash used in operating activities was $17.2 million compared to cash provided by operating activities of $14.7 million a year ago. Capital expenditures were $31.1 million compared to $39.5 million a year ago. Adjusted EBITDA was $41.1 million compared to $61.3 million a year ago. Net debt (debt minus cash) was $630.6 million.

For the second half of 2014, the company expects to spend approximately $28 million on the rod mill, including approximately $13 million upon delivery of the rod production line in September 2014.