Haynes International To Report 2Q Charge

KOKOMO, Ind. (AP) — Haynes International Inc., which makes high performance alloys, said Friday it will report a $43.7 million charge in the fiscal second quarter.

The company said the non-cash goodwill impairment charge will reduce operating results but will not affect the company's liquidity position, cash flows from operating activities, or compliance with its debt covenants.

Haynes is scheduled to report second-quarter results May 7. The quarter ended March 31.

Analysts polled by Thomson Reuters expect the company to earn 12 cents per share in the quarter.

Shares of Haynes rose 89 cents, or 4.1 percent, to $22.66 in afternoon trading.