United States Steel Corporation Revises 2008 Fourth Quarter and Full-Year Results

PITTSBURGH, Feb. 24 /PRNewswire-FirstCall/ -- Today, United States Steel Corporation filed its Annual Report on Form 10-K for the period ending December 31, 2008, which includes revisions to the unaudited fourth quarter and full-year 2008 results that were reported in the earnings release issued on January 27, 2009. Following the release of financial results, U. S. Steel made certain updates and corrections mainly related to lower of cost or market inventory valuations. Net income was reduced by $18 million, or $0.15 per diluted share, resulting in fourth quarter net income of $290 million, or $2.50 per diluted share, and full-year 2008 net income of $2,112 million, or $17.96 per diluted share.

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SOURCE: United States Steel Corporation

Web site: http://www.ussteel.com/