- Net sales were $301 million, a decrease of 5 percent, versus $316 million in the second quarter of 2012.
- Industrial Materials revenue was $231 million, a decrease of 12 percent year-over-year.
- Engineered Solutions revenue was $70 million, an increase of 31 percent year-over-year.
- EBITDA * was $40 million as compared to $67 million in the second quarter of 2012. The decline was largely driven by lower realized pricing in our Industrial Materials segment, partly offset by improved profitability in our Engineered Solutions segment.
- Net income was $4 million or $0.03 per diluted share versus $42 million or $0.29 per diluted share in the same period of the prior year. The second quarter of 2012 included a $10 million non-cash benefit of discrete tax items. Excluding the non-cash tax benefit, second quarter 2012 net income was $32 million, or $0.22 per diluted share.
- Net cash used in operating activities was $6 million versus $16 million in the second quarter of 2012.
- Net debt * was $592 million as compared to $554 million at the end of 2012. The increase in net debt partially reflects higher inventories to support increased sales volumes in the second half of the year.
GrafTech Reports Second Quarter 2013 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.