On 27 July 2010, United States Steel Corp. posted a second-quarter loss, although it was smaller than a year ago as sales more than doubled. US Steel expects to post a third-quarter profit, but the company, based in Pittsburgh, says operating results will fall from the second quarter because of declines in orders from spot market customers. Shares fell about 4% in premarket trading. The company;s second-quarter loss was USD 25 million, or 17 cents per share. That compares with a loss of USD 392 million, or USD 2.92 per share, a year earlier. Excluding one-time items, it reported operating income of USD 198 million. Excluding financial costs and a foreign-currency loss, US Steel made 45 cents a share. Sales more than doubled to USD 4.68 billion. Operating expenses nearly doubled as well. Shipping and production is being dragged down by slower order rates, due to seasonal weakness and changes in inventory.