- Net sales were $284 million, a decrease of six percent, compared to $301 million in the same period of the prior year.
- Industrial Materials segment revenue declined 11 percent primarily due to weaker graphite electrode realized pricing and lower needle coke sales volume.
- Engineered Solutions segment revenue increased 11 percent primarily due to higher sales volumes in advanced consumer electronics and high temperature furnace applications.
- Preliminary earnings were a net loss of $(160) million, or $(1.18) per diluted share, versus net income of $4 million, or $0.03 per diluted share in the same period of the prior year. The preliminary net loss in the second quarter of 2014 includes an estimated $154 million, net of tax, of special charges. Excluding these charges, adjusted net loss* was $(6) million, or $(0.05) per diluted share.
- EBITDA* (which excludes special charges) was $28 million as compared to $40 million in the same period of the prior year.
- Net cash provided by operating activities was $34 million versus a net cash use of $(6) million in the second quarter of 2013. Operating cash flow in the second quarter of 2014 includes approximately $9 million of rationalization and related cash costs.
- Net debt* was $531 million as compared to $540 million at the end of 2013.
GrafTech Reports Preliminary Second Quarter 2014 Results
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