ALJ Reports Fiscal 2007 Results
01/04/2008 - Kentucky Electric Steel’s parent, ALJ Regional Holdings posts net income of $1.061 million on net sales of $39.604 million for the fourth quarter, and net income of $6.572 million on net sales of $150.921 million for the fiscal year ended September 30, 2007.
ALJ Regional Holdings, Inc. posted net income of $1.061 million on net sales of $39.604 million for the fourth quarter, and net income of $6.572 million on net sales of $150.921 million for the fiscal year ended September 30, 2007.
“The 2007 fourth quarter and annual results were substantially similar to 2006, except for the one-time gain of $3.9 million in 2007 due to repurchase of debt,” said John Scheel, ALJ’s CEO.
Fourth Quarter Results—Net income of $1,061 million ($0.03 per share) compares to net income of $1,066 million ($0.03 per share) for the fourth quarter ended September 30, 2006. Nets sales of $39.604 million compare to net sales of $35,489 million for the year-ago fourth quarter.
Full Year Results—Net income of $6.572 million ($0.16 per share) compares to net income of $2.521 million ($0.06 per share) for the fiscal year ended September 30, 2006. Net sales of $150,921 compare to net sales of $139,777 for the year ended September 30, 2006.
“We believe the steady cost performance and productivity at Kentucky Electric Steel buffered the rising costs of raw materials and energy helping us to achieve profitability for fiscal 2007,” said Scheel.
ALJ is the parent of Ashland, Ky., based Kentucky Electric Steel, a steel minimill that produces steel bar flats as both merchant bar quality flats (MBQ Bar Flats) and special bar quality flats (SBQ Bar Flats).
