Ampco-Pittsburgh Corporation Announces Results
04 Februar 2013 - 10:19PM
Business Wire
Ampco-Pittsburgh Corporation (NYSE:AP) announces sales for the
three months and year ended December 31, 2012 of $77,154,000 and
$292,905,000, respectively, compared to sales of $86,514,000 and
$344,816,000 for the same periods of 2011. Income from operations
for the three months ended December 31, 2012 and 2011 was
$5,500,000 and $6,994,000, respectively, and for the twelve months
then ended was $16,293,000 and $36,474,000, respectively. For 2012,
net income was $3,319,000 or $0.32 per common share for the fourth
quarter and $8,355,000 or $0.81 per common share for the year. For
2011, net income was $1,754,000 or $0.17 per common share for the
fourth quarter and $21,309,000 or $2.07 per common share for the
year.
For the Forged and Cast Rolls segment, sales and operating
income for the quarter and year were less than the same periods of
the prior year and were adversely affected by weak global demand,
competitive pricing pressures and lower production volumes. Sales
for the Air and Liquid Processing segment for the quarter and year
improved slightly against 2011; however, operating income was
adversely affected by changes in product mix.
The matters discussed herein may contain forward-looking
statements that are subject to risks and uncertainties that could
cause actual results to differ materially from expectations. Some
of these risks are set forth in the Corporation's Annual Report on
Form 10-K as well as the Corporation's other reports filed with the
Securities and Exchange Commission.
AMPCO-PITTSBURGH
CORPORATION
FINANCIAL
SUMMARY
Three Months Ended December 31,
Year Ended December 31, 2012
2011 2012 2011
Sales
$ 77,154,000
$ 86,514,000 $
292,905,000 $
344,816,000 Income from
operations 5,500,000 6,994,000 16,293,000 36,474,000 Other expense
– net
(362,000 )
(984,000 ) (1,125,000
)
(1,747,000 ) Income before
income taxes 5,138,000 6,010,000 15,168,000 34,727,000
Income tax provision (1,575,000 ) (4,152,000 ) (5,218,000 )
(12,916,000 ) Equity losses in Chinese joint venture
(244,000 ) (104,000
) (1,595,000 )
(502,000 ) Net income
$ 3,319,000 $
1,754,000 $ 8,355,000
$ 21,309,000
Earnings per common share: Basic
$ 0.32
$ 0.17 $
0.81 $ 2.07
Diluted
$ 0.32 $
0.17 $ 0.80
$ 2.05 Weighted-average
number of common shares outstanding: Basic
10,342,973 10,325,602
10,338,401
10,318,613 Diluted
10,394,680 10,389,753
10,389,678
10,393,159
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