U.S. Steel returns to profit on higher prices, cost cuts

Tue Apr 29, 2014 4:22pm EDT
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April 29 (Reuters) - United States Steel Corp returned to profit in the first quarter, results on Tuesday showed, helped by higher commercial prices for its products and the impact of the company's cost-cutting program.

The Pittsburgh-based company reported net income of $52 million, or 34 cents a diluted share, versus a loss of $73 million, or 51 cents a diluted share, a year earlier. (Reporting by Nicole Mordant in Vancouver; Editing by David Gregorio)