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!

Graftech International CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stocks in this article: GTI

Also to the extent that we discuss any non-GAAP financial measures, you will find reconciliations in our press release, which are posted on our website at in the Investor Relations section. In particular, on this call, we will be discussing the non-GAAP financial items of adjusted EBITDA, operating income, net income and EPS that exclude the non-cash impacts of pension related charges and the release of that tax valuation allowance, both which have been accounted for in the fourth quarter of 2010 and 2011.

Any year-to-year growth comparison reflects the same adjustment. Further information on the methods we use to account for these items can be found in our SEC filings. For your reference, a reply of the call is available on our website.

At this time, I would like to turn it over to Craig.

Craig Shular

Thank you. Anita. Good morning everyone and thank you for joining GrafTech’s call. Today, we will take you to our full year and our fourth quarter highlights and then open it up to questions.

Recapping our full year results for 2011, sales increased 31% to 1.3 billion and our EBITDA was $269 million, up 30%.

2011 EBITDA was our second best in the company’s history. Operating income improved to $188 million, while net income was $141 million, or $0.96 per share.

Net debt at year end was $419 million, the increase year-over-year was primarily attributed to an increase in working capital needs to support the 31% increase in sales and the $2 million share buyback we concluded in Q4.

In October, we successfully completed a $570 million five-year refinancing of our revolving credit facility. This represents as $310 million increase over the prior facility. We secured better terms and conditions and the credit was rated investment grade by Moody’s. This new facility will provide us excellent liquidity as we continue to grow our company and we’ll keep us well positioned in the volatile and still recovering global economy.

2 of 3

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 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

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