Metalico Sets August 13 Call, Anticipates Improved Results
July 15 2014 - 9:01AM
CRANFORD, NJ
, July 15, 2014 - Metalico, Inc. (NYSE MKT: MEA), a
scrap metal recycler and lead products fabricator, plans to report
financial results for the quarter ended June 30, 2014 and provide
an update on business developments in a conference call on
Wednesday, August 13, 2014 at 10:00 a.m. ET.
The Company is scheduled to
release its results earlier that day. It is expected to
announce improving performance through the Second Quarter.
The Company is providing this preliminary information at this time
as an update to investor and customer inquiries regarding the
status of company operations, finances and liquidity.
The conference call can be
accessed by dialing (800) 446-1671 (toll free) or (847) 413-3362
(toll), Conference Confirmation Number 37710650. Callers
should identify the Metalico Second Quarter Results Call.
For the Second Quarter, Metalico
anticipates total sales of $142 million, an increase of
approximately 9% from $130 million in the same period last
year. Operating income improved and is anticipated to be
between $2 million and $2.5 million, compared to a loss of $2
million in the same period last year. The Company benefitted
from increased non-ferrous volumes and improvement in related
margins. Metalico estimates that reported EBITDA for the
quarter will more than double and be in a range of $6.8 million to
$7.2 million, compared to $2.6 million for the same quarter in
2013.
As of the date of this release,
the Company has not completed its financial closing process for the
quarter, including its analysis of the carrying value of its
goodwill. During the course of the close and related
auditors' review, the Company may identify items that would require
it to make adjustments to earning results or carrying values of
assets, any of which would impact results. As a consequence,
the estimates above constitute forward-looking information and are
subject to risks and uncertainties, including possible adjustments
to preliminary results.
A transcript of the results call
will be posted on the Company's website, www.metalico.com, when
available. An audio replay of the call will be accessible at
(888) 843-7419 (toll free) or (630) 652-3042 (toll) for the first
week after the call's conclusion. Callers will be required to
enter the Conference Confirmation Number to access the
recording.
Metalico, Inc. is a holding
company with operations in two principal business segments: Ferrous
and Non-Ferrous Scrap Metal Recycling, including PGM and Minor
Metals Recycling, and Fabrication of Lead-Based Products. The
Company operates recycling facilities in New York, Pennsylvania,
Ohio, West Virginia, New Jersey, Texas, and Mississippi and lead
fabricating plants in Alabama, Illinois, and California.
Metalico's common stock is traded on the NYSE MKT under the symbol
MEA.
This announcement and the August
13 conference call may contain, in addition to historical
information, certain forward-looking statements such as the
preliminary financial information set forth above that involve
risks and uncertainties. Such statements reflect management's
current views and are based on certain assumptions. These
statements may contain terms like "expect," "anticipate,"
"believe," "should," "appear," "estimate" and other words
that convey a similar meaning, or are statements that do not relate
strictly to historical or current facts. Forward-looking
statements include statements with respect to Metalico's beliefs,
plans, objectives, goals, expectations, anticipations, assumptions,
estimates, intentions, and future performance, and involve known
and unknown risks, uncertainties and other factors, which may be
beyond Metalico's control, and which may cause Metalico's actual
results, performance or achievements to be materially different
from future results, performance, expectations or achievements
expressed or implied by such forward-looking statements.
Factors that could cause such material difference are discussed in
more detail in the Company's most recent Annual Report on Form 10-K
and other filings with the Securities and Exchange
Commission. Actual results could differ materially from the
assumptions currently anticipated.
Contact:
Metalico, Inc.
Carlos E. Agüero
Michael J. Drury
info@metalico.com
186 North Avenue East
Cranford, NJ 07016
(908) 497-9610
Fax: (908) 497-1097
www.metalico.com
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This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Metalico, Inc. via Globenewswire
HUG#1825913