Bethlehem Steel Corp. Wednesday said higher costs and reduced demand contributed to a 25 percent decrease in earnings and a 22 percent drop in sales in the final quarter of 1989.
Fourth-quarter earnings totaled $50 million, or 58 cents a share, on sales of $1.14 billion. That compared with earnings of $65.7 million, or 79 cents a share, on sales of $1.33 billion in the same period of 1988.
Profits for all of 1989 dropped 39 percent to $245.7 million, or $2.93 a share, from $403 million, or $5.32 a share, in 1988. Sales slipped 4 percent to $5.25 billion from $5.48 billion.