Haynes International, Inc. Provides Update on First Quarter Revenue and
KOKOMO, Ind., Jan. 10, 2013 (GLOBE NEWSWIRE) -- Haynes International, Inc.
(Nasdaq:HAYN), a leading developer, manufacturer and marketer of
technologically advanced high-performance alloys (the "Company"), reported
today that, based on currently available information, revenue and earnings for
the Company's first fiscal quarter ended December 31, 2012 are expected to be
lower than previously anticipated by the Company. The Company currently
expects first quarter revenue to be $114.3 million and first quarter net
income to be in the range of $5.5 million to $6.0 million. Mark Comerford,
President and Chief Executive Officer, said, "During our first quarter, our
customers exercised increased caution in making purchases, which we attribute
to ongoing uncertain economic conditions. As a result, earnings for the
quarter ended December 31, 2012 will be lower than previously anticipated and
we expect earnings will be uncertain in the near future due to lack of
visibility. 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."
About Haynes International
Haynes International, Inc. is a leading developer, manufacturer and marketer
of technologically advanced, nickel- and cobalt-based high-performance alloys,
primarily for use in the aerospace, chemical processing and land-based gas
The Haynes International, Inc. logo is available at
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements other than statements of
historical fact, including statements regarding industry prospects and future
results of operations or financial position, made in this press release are
forward-looking. In many cases, you can identify forward-looking statements by
terminology, such as "may", "should", "expects", "intends", "plans",
"anticipates", "believes", "estimates", "predicts", "potential" or "continue"
or the negative of such terms and other comparable terminology. Readers are
cautioned that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a result of
various factors, many of which are beyond the Company's control.
The Company has based these forward-looking statements on its current
expectations and projections about future events. Although the Company
believes that the assumptions on which the forward-looking statements
contained herein are based are reasonable, any of those assumptions could
prove to be inaccurate. As a result, the forward-looking statements based upon
those assumptions also could be incorrect. Risks and uncertainties, some of
which are discussed in Item 1A. of Part 1 to the Company's Annual Report on
Form 10-K for the fiscal year ended September 30, 2012, may affect the
accuracy of forward-looking statements.
The Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
CONTACT: Daniel Maudlin
Vice President - Chief Financial Officer
Haynes International, Inc.
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