Cliffs Revenue Report is a Mixed Bag

Revenue is Down $30 million this year

DULUTH, Minn.-Cliffs Natural Resources released its first quarter results today which had a few surprises.

Despite the increase from last year, the company operated with a net loss of $30 million over the last three months.

Cliffs said in a statement today, that even though they have lost money, they have already reduced their debt to $1.6 billion compared to $2.4 billion at the same time last year.

Last year, revenues were up five percent company-wide.