Armco Inc. posted a profit of $48 million in its third quarter after suffering a $272.7-million loss for the same period last year. This year's third-quarter net income included a gain of $134.7 million from the sale of Armco's aerospace and strategic materials group to Owens-Corning Fiberglas, which was completed in September. This gain was partly offset by a special charge against earnings of $110 million related to the previously announced plan to close its Ambridge, Pa., works before the end of 1985. Also included in the positive results are about $13 million in LIFO credits from inventory reductions.
For detailed data and results of other companies, please see accompanying tables.