Haynes International, Inc. Reports Fourth Quarter And Fiscal 2010 Financial Results
- Net revenues of $104.6 million and net income of $5.5 million, or $0.45 per diluted share, for the three months ended September 30, 2010, compared to net revenues of $85.6 million and net loss of $(3.0) million, or $(0.25) per diluted share, for the same period of fiscal 2009.
- Net revenues of $381.5 million and net income of $8.9 million, or $0.73 per diluted share, for fiscal 2010, compared to net revenues of $438.6 million and net loss of $(52.3) million, or $(4.36) per diluted share, for fiscal 2009. Net loss for fiscal 2009 excluding a non-cash charge for goodwill impairment was $(9.5) million, or $(0.78) per diluted share.
- Regular quarterly cash dividend of $0.20 per outstanding share of the Company's common stock declared.
KOKOMO, Ind., Nov. 18, 2010 (GLOBE NEWSWIRE) -- Haynes International, Inc. (Nasdaq:HAYN), a leading developer, manufacturer and marketer of technologically advanced high-performance alloys, today reported financial results for the fiscal fourth quarter and twelve months ended September 30, 2010. In addition, the Company announced that its Board of Directors has authorized a quarterly cash dividend of $0.20 per outstanding share.
"Fiscal 2010 was a year marked by continuing quarter over quarter improvement in results compared to fiscal 2009. We generated net income of $8.4 million, on net revenues of $381.5 million; in fiscal 2009, we had net revenues of $438.6 million, and a net loss of $9.5 million, excluding the one-time goodwill impairment," said Mark Comerford, President and Chief Executive Officer. "Net revenues and volume reached a low point in the first quarter of fiscal 2010, and then improved in each subsequent quarter, as demand in our end markets improved. We are encouraged by the positive trend in our end markets, most notably aerospace, and believe we are well-positioned to compete effectively in the coming year."
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