UCM Resita said total revenue dropped 26.7% on the year to RON124.7 million in 2011, while overall costs fell 9% to RON212.6 million.
Sales declined 26.6% on the year to RON123.1 million, the company said in its preliminary financial report.
UCM Resita was privatized in 2003, when Swiss company INET and UCM employees association took over the majority stake, in a EUR13.1 million deal. INET currently owns a 99.63% stake in the company.
On November 6, UCM Resita closed down 3.39% at RON0.0599 a share in Bucharest. (EUR1=RON4.3467)