LTV Corp.: The Dallas steel and aerospace...
LTV Corp.: The Dallas steel and aerospace company reported a $265-million profit in 1989, contrasted with a $3.2-billion loss the year before. Sales in 1989 totaled $6.4 billion, down 13% from 1988. The 1988 net loss included $1.35 billion of Chapter 11 special charges and a one-time, non-cash charge of $2.26 billion for a change in accounting for post-employment insurance benefits. Results for 1989 included a $30-million special charge to write down costs related to canceling construction of a plant for the production of advanced aircraft components.
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