This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Brush Engineered Materials Inc. Reports Record Sales And Stronger Than Expected Fourth Quarter And Full-Year 2010 Results

Stocks in this article: BW

Brush Engineered Materials Inc. (NYSE:BW) today reported stronger than expected results for the fourth quarter and the full-year 2010. In addition, the Company provided an initial outlook for 2011.


Sales for the fourth quarter were a record $356.0 million and EPS was $0.61 per share, diluted. The fourth quarter performance thus, in turn, takes sales for the full year 2010 to a record $1.302 billion and earnings to $2.25 per share, above the previously announced estimated range of $2.00 to $2.10 per share. The stronger than expected performance for the quarter was due to stronger than anticipated demand, lower than expected costs and higher margin levels.

Fourth quarter sales were up approximately 65%, or $140.8 million compared to the fourth quarter of 2009 sales of $215.2 million. The acquisitions of Barr Associates, Inc. and Academy Corporation in the fourth quarter of 2009 and the first quarter of 2010, respectively, accounted for $70.1 million of the sales increase. Higher pass-through metal prices accounted for approximately $26.0 million of the increase and organic sales growth in the quarter was approximately 21%, or $44.7 million. The improvement in organic sales is primarily due to increased demand across key markets including consumer electronics, telecom infrastructure, energy, defense and automotive electronics.

Net income was $12.6 million, or $0.61 per share, diluted, for the fourth quarter, which compares to a net loss of $3.6 million, or $0.18 per share for the fourth quarter of the prior year. The significant improvement in earnings for the quarter was driven by the increased sales volume and improved margins.

Sales for the full year 2010 were $1.302 billion, up approximately 82% or $587.1 million, compared to the full year 2009 sales of $715.2 million. Net income for 2010 was $46.4 million, or $2.25 per share, diluted, compared to a net loss of $12.4 million, or $0.61 per share, for 2009.

1 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs