Haynes Int'l Profit Rises

(RTTNews) - Haynes International Inc (HAYN), a maker of high-performance alloys, Thursday reported fourth-quarter net earnings of $6.4 million or $0.51 per share compared with $4 million or $0.32 per share last year.

Revenues for the quarter were $120 million compared with $115.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.32 per share on revenues of $131 million for the quarter. Analysts' estimates typically exclude special items.

"Our fourth quarter was marked by improvements in margin, mix, operating leverage and backlog quality," said Mark Comerford, President and Chief Executive Officer.

For the first quarter of fiscal 2015, the company expects revenue and earnings to be lower than the fourth quarter of 2014.

"First quarter results are typically impacted by lower production days due to holidays and planned maintenance outages. Planned outages related to the capital expansion projects in both Kokomo and Arcadia as well as other maintenance-related projects are expected to impact first quarter results," the company said.

For 2015, the company expects year-over-year growith, based on conversations with customers and the strength of backlog.

"We anticipate the first quarter of fiscal 2015 to be challenging due to typical calendar year end cyclicality and low scheduled shipments per CPI projects. However, based on conversations with customers and the strength of our backlog, we expect fiscal 2015 to be a favorable year overall when compared to fiscal 2014."

The company declared a quarterly cash dividend of $0.22 per share.