This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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 Reports Second Quarter 2012 Results

Stocks in this article: GTI

Industrial Materials Segment

The Industrial Materials segment’s net sales were $262 million in the second quarter of 2012, as compared to $270 million in the second quarter of 2011. Lower sales volume of graphite electrodes and needle coke were partially offset by higher realized pricing of both products.

Operating income for the Industrial Materials segment was $42 million in the second quarter of 2012, as compared to $32 million in the second quarter of 2011. The increase is due primarily to higher realized pricing of graphite electrodes and needle coke as compared to the same period in the prior year. While lower volumes adversely impacted operating income, the profit expansion from the price increase in the current quarter exceeded the negative impact from the decline in volumes. Also adding to operating income in the quarter was the carryover benefit of lower costs from inventory related to higher fourth quarter 2011 production rates and lower cost raw materials purchased in 2011. It is important to note that the lower cost inventory has been essentially absorbed and we anticipate that the impact of 2012 raw material cost increases and higher fixed cost absorption will be more fully reflected in the second half of the year.

As discussed previously, our Seadrift production team has collaborated with scientists from our Engineered Solutions segment to develop a super premium grade of needle coke. In the second quarter of 2012, Seadrift successfully commercialized this breakthrough product and began selling super premium needle coke to third parties. This development demonstrates our continued commitment to leverage our core competency in graphite material science to grow our Company by commercializing new products and technologies. Mr. Shular stated, “While we do not anticipate that these sales will materially impact our 2012 results, we are encouraged by the market acceptance of this breakthrough product and believe it will prove strategically valuable to our business in the future.”

2 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
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!

Markets

DOW 18,074.87 +44.66 0.25%
S&P 500 2,090.38 +8.50 0.41%
NASDAQ 4,799.6490 +26.1770 0.55%

Brokerage Partners

Rates from Bankrate.com

  • 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