Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener. Metalico ( MEA) reported on March 12, 2009 that it swung to a Q4 FY08 net loss of $67.50 million or $1.86 per share from a profit of $2.56 million or $0.08 per share in the prior year's quarter. Loss from continuing operations stood at $67.11 million or $1.85 per share. The most recent consensus estimate was a loss of $0.08 per share. Total revenue plunged 43.2% to $64.54 million from $113.57 million due to the impact of the ongoing economic crisis. Scrap Metal revenue declined 44.3% to $49.60 million from $89.10 million. Average ferrous price increased 18.3% to $329 per gross ton from $278 per gross ton, whereas average nonferrous selling price dropped 28.4% to $1.11 per pound from $1.55 per pound in Q4 FY07. Lead Fabricating revenue decreased 38.8% to $15.00 million from $24.50 million and posted an average selling price of $1.34 per pound. Total costs and expenses increased 45.6% to $154.44 million from $106.08 million due to $59.04 million of impairment charges. Operating expenses dipped 13.9% to $83.76 million from $97.32 million. Selling, general, and administrative expenses advanced 14.5% to $7.60 million from $6.63 million and depreciation and amortization expenses jumped 89.6% to $4.04 million from $2.13 million in the prior year's quarter. FY08 total revenue more than doubled to $818.20 million from $334.21 million in FY07. The company swung to a net loss of $43.66 million or $1.25 per share from a profit of $14.75 million or $0.50 per share in FY07.
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