Haynes earnings double on energy, higher margins

May 04, 2012 | 03:06 PM | Thorsten Schier

Tags  Haynes, Marcel Martin, Mark Comerford, oil and gas, aerospace, Thorsten Schier

NEW YORK — Specialty alloys producer Haynes International Inc. reported strong results in its fiscal second quarter, buoyed by rising interest from the oil and gas markets and increased sales of higher-margin alloys.

Haynes posted net income of nearly $15.2 million in the three months ended March 31, more than double earnings in the same period last year, on revenue that rose 14.2 percent to $158.9 million.

"The energy market has been doing great for us," president and chief executive officer Mark Comerford said during the company’s second-quarter earnings call. ....

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