c) Declining nickel prices resulted in inventory losses in the fourth quarter and the entire year of 2012 of approximately $1,150,000 and $4,645,000, respectively. For the same periods last year, fluctuating nickel prices produced inventory losses of $870,000 and $1,637,000, respectively. The impact to reported earnings was a negative swing of approximately $0.03 per share for the fourth quarter and $0.31 for the year.d) In the fourth quarter and the entire year of 2011, operating income for the fabrication unit of our Metals Segment was favorably affected by higher unit selling prices associated with the completion of several large scale lump-sum jobs. The unit realized $135,000 and $4,659,000 of additional billings during the fourth quarter and total year of 2011, respectively, from these completed jobs which added approximately $0.02 per share and $0.49 per share, respectively.
Synalloy's Fourth Quarter Earnings Per Share Increase By 45% Excluding Palmer Acquisition Costs
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