Allegheny Technologies to Exceed Third Quarter 2005 Analyst Estimates
October 12 2005 - 7:57AM
Business Wire
Allegheny Technologies Incorporated (NYSE:ATI) announced today that
it expects its third quarter 2005 earnings to be in the range of
$0.84 to $0.88 per share, including a $4 million favorable
resolution of prior years' tax matters. The Thomson First Call mean
of analyst estimates for ATI's third quarter is $0.76 per share and
the analyst range is $0.68 to $0.83 per share. "Markets for our
high-value products remain strong and we benefited from our ongoing
cost control and cost reduction efforts in the third quarter," said
Pat Hassey, Chairman, President and Chief Executive Officer of
Allegheny Technologies. "In addition, cash flow in the third
quarter was strong. We expect cash flow from operating activities
to be over $120 million in the third quarter." ATI Announces
Webcast for Third Quarter Conference Call Allegheny Technologies
plans to release third quarter 2005 results on Wednesday, October
26, 2005, before the market opens. ATI has scheduled its conference
call with investors and analysts for 1 p.m. ET on October 26. The
conference call will be broadcast live on ATI's website,
www.alleghenytechnologies.com. To access the broadcast, go to the
home page and select "Conference Call". In addition, the conference
call will be broadcast through CCBN.com. This news release contains
forward-looking statements. These statements are based on
management's current expectations and are subject to uncertainty
and changes in circumstances. Actual results may differ materially
from those projected in the forward-looking statements. Additional
information concerning factors that could cause actual results to
differ materially from those projected in the forward-looking
statements is contained in Allegheny Technologies' filings with the
Securities and Exchange Commission. Allegheny Technologies
Incorporated is one of the largest and most diversified specialty
materials producers in the world with revenues of approximately
$2.7 billion in 2004. ATI has approximately 9,000 full-time
employees world-wide who use innovative technologies to offer
growing global markets a wide range of specialty materials
solutions. Our major markets are aerospace, construction and
mining, chemical processing/oil & gas, food equipment and
appliance, automotive, electrical energy, machine and cutting
tools, and medical. Our products include nickel-based alloys and
superalloys, titanium and titanium alloys, stainless and specialty
steels, zirconium, hafnium, and niobium, tungsten materials,
silicon and tool steels, and forgings and castings. The Allegheny
Technologies website is www.alleghenytechnologies.com.
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