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Allegheny Technologies Profit Down Sharply
PITTSBURGH -- Titanium producer Allegheny Technologies (ATI Quote) said Wednesday its fourth-quarter profit fell more than 25%, yet it still beat Wall Street expectations.
Net income declined to $110.9 million, or $1.15 per share, from $148.9 million, or $1.45 per share.
Analysts surveyed by Thomson Reuters expected earnings per share for the quarter of 90 cents.
Revenue of $1.11 billion for the quarter ended Dec. 31 slid nearly 13% from $1.27 billion in the same period in 2007. Analysts expected $1.12 billion, on average. ...
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