Wheeling-Pittsburgh Steel said it turned a profit...

Wheeling-Pittsburgh Steel said it turned a profit during the first quarter of 1986, although the results were achieved while the company operated under Chapter 11 bankruptcy protection. The nation’s seventh-largest steelmaker said it had net income of $4 million during the quarter. Without Chapter 11 protection, it would have posted a net loss of about $10 million for the first quarter because of debt service payments, the company said. Wheeling-Pittsburgh had a net loss of $25.7 million in the like 1985 quarter.