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Haynes earnings to fall below expectations

Keywords: Tags  Haynes International, earnings forecast, nickel alloy demand, Mark Comerford, Daniel Fitzgerald


NEW YORK — Haynes International Inc. has forecast “lower-than-previously-anticipated” earnings for the quarter ended Dec. 31, adding that it expects earnings to be “uncertain in the near future due to lack of visibility.”

The Kokomo, Ind.-based nickel alloy producer forecast revenues of $114.3 million and net income in the range of $5.5 million to $6.0 million. The company posted revenues of $128.9 million and net income of $8.4 million in the corresponding quarter of 2011 ( amm.com, Feb. 3).

“During our first quarter, our customers exercised increased caution in making purchases, which we attribute to ongoing uncertain economic conditions,” president and chief executive officer Mark Comerford said in a statement. “We continue to believe in the long-term growth potential of the aerospace, land-based gas turbine and chemical processing markets, and we will continue to implement our capital spending projects in line with our plans to meet the growth requirements of those target markets.”

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