(Adds results detail)
BRASILIA Feb 22 Brazilian steelmaker Gerdau SA
reported on Wednesday a net loss of 3.1 billion reais
($1.00 billion) in the fourth quarter, due to impairments and
lower steel sales.
The loss was a slight improvement on the 3.2 billion reais
net loss reported in the same quarter of 2015, when the company
also booked heavy writedowns.
Gerdau, the largest producer of long steel in the Americas,
wrote down assets by 2.9 billion reais, principally on its North
Excluding non-recurring items, Gerdau reported an adjusted
net loss of 205 million reais and adjusted EBITDA, or earnings
before interest, taxes, depreciation and amortization, of 716
($1 = 3.0921 reais)
(Reporting by Stephen Eisenhammer; Editing by Chizu Nomiyama)