This Day On The Street
Continue to site
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

Haynes International, Inc. Reports Second Quarter Fiscal 2014 Financial Results

  • Second quarter net revenues of $115.4 million and net loss of $(1.2) million, or $(0.10) per diluted share, for the three months ended March 31, 2014, compared to net revenues of $129.2 million and net income of $6.4 million, or $0.52 per diluted share, for the same period of fiscal 2013.  
  • Tax charge of $0.3 million, or $0.03 per diluted share, recorded for lowering deferred tax assets after a new law passed for a state income tax rate reduction.  
  • Backlog was $202.3 million at March 31, 2014, an increase of 12.3% from $180.2 million at December 31, 2013.  
  • The Company spent $24.3 million on capital projects in the first six months of fiscal 2014. The Company estimates spending approximately $57.0 million on capital projects in fiscal 2014.    
  • Regular quarterly cash dividend of $0.22 per outstanding share of the Company's common stock declared.

KOKOMO, Ind., May 8, 2014 (GLOBE NEWSWIRE) -- Haynes International, Inc. (Nasdaq:HAYN) (the "Company"), a leading developer, manufacturer and marketer of technologically advanced high-performance alloys, today reported financial results for the second quarter ended March 31, 2014. In addition, the Company announced that its Board of Directors has authorized a regular quarterly cash dividend of $0.22 per outstanding share.

"Net revenues were stronger and backlog increased across all of our end markets in the second quarter compared to the first quarter. We saw volumes increase, nickel prices move up, backlogs grow and lead-times extend, and we remain cautiously optimistic about the continuation of these trends. We are pushing through much-needed price increases as we have experienced compression from the downturn and rising costs in certain areas of our operation, most significantly in utilities," said Mark Comerford, President and Chief Executive Officer. "We are continuing to make meaningful progress on our capital expansion projects, and we expect to be well positioned for future growth."

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs