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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