- ATI’s sales to the key global markets of aerospace and defense, oil and gas/chemical process industry, electrical energy, and medical represented 67% of ATI sales for the first six months of 2012:
- Sales to the aerospace and defense market were $851 million and represented 31% of ATI sales.
- Sales to the oil and gas/chemical process industry were $539 million and represented 20% of ATI sales.
- Sales to the electrical energy market were $316 million and represented 12% of ATI sales.
- Sales to the medical market were $114 million and represented 4% of ATI sales.
- Direct international sales were $974 million for the first six months of 2012 and represented nearly 36% ATI sales.
Allegheny Technologies Incorporated (NYSE: ATI) reported net income for the second quarter 2012 of $56.4 million, or $0.50 per share, on sales of $1.36 billion. In the second quarter 2011, ATI reported net income of $64.0 million, or $0.59 per share, on sales of $1.35 billion. For the six months ended June 30, 2012, net income was $112.6 million, or $1.00 per share, on sales of $2.71 billion. For the six months ended June 30, 2011, net income was $120.3 million, or $1.13 per share, on sales of $2.58 billion. “Second quarter 2012 results were similar to those achieved in the first quarter 2012 in spite of a weakening global economy, demonstrating the benefit of ATI’s diversification strategy,” said Rich Harshman, Chairman, President and Chief Executive Officer. “We believe that the long-term secular growth trends in our key global markets remain intact. However, demand for many of our products in the second quarter was impacted by slower than expected GDP growth in the U.S. and China and fiscal and economic uncertainties in Europe. Revenue and operating margins were also impacted by falling prices for most raw materials.”