Tower loss narrows to US$64.4m from US$540.8m
Sales down in the fourth quarter of 2005
Tower Automotive Inc. reported a significant decline in loss for the fourth quarter ended 31st December 2005. The company’s loss declined to US$64.4m from restated loss of US$540.8m in the fourth quarter of financial year 2004. Loss incurred in 2005 includes an aftertax charge of about US$7.9m reflecting an accounting change related to asset retirement obligations.
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