Foothill Ranch-based aluminum parts maker Kaiser Aluminum Corp., which emerged from four years under bankruptcy organization in July, posted big gains for the fourth quarter.
Net income for the quarter was $12 million, versus a $1.14 billion loss a year earlier. At that time, Kaiser saw more than $1 billion in charges related to its reorganization.
Sales for the quarter rose 23% from a year earlier to $336 million.
The company said it had better results this year because it was able to raise prices and pass on higher costs for metal. Kaiser also ramped up its shipments.
“The company continues to deliver strong results, led by robust demand for aerospace and defense applications in our fabricated products segment,” said Jack A. Hockema, chief executive of Kaiser Aluminum.
Decades-old Kaiser shapes aluminum into sheet, rods, pipes and custom pieces for customers, which include aerospace companies, automakers and appliance companies.
They use Kaiser’s parts in antilock brakes, water heaters and airplane wings.
For the military, Kaiser makes aluminum armor for Humvees.
Earlier this week, the company said it won a five-year contract to supply aluminum plate and sheet to Canada’s Bombardier Inc.
