allegheny technologies inc (ATI) Key Developments
Allegheny Files Shelf Registration; Mulls Acquisitions
May 15 15
Allegheny Technologies Inc. (NYSE:ATI) has filed a shelf registration and plans use the net proceeds from the sale of securities for general corporate purposes. The company’s general corporate purposes include, but are not limited to, repayment, redemption or refinancing of debt, capital expenditures, investments in or loans to subsidiaries and joint ventures, funding of possible acquisitions, working capital, contributions to one or more of our pension plans, satisfaction of other obligations and repurchase of our outstanding equity securities.
Allegheny Technologies Inc. Presents at Bank of America Merrill Lynch Global Metals, Mining & Steel Conference, May-13-2015
May 13 15
Allegheny Technologies Inc. Presents at Bank of America Merrill Lynch Global Metals, Mining & Steel Conference, May-13-2015 . Venue: Hotel Arts, Barcelona, Spain. Speakers: Patrick J. DeCourcy, Chief Financial Officer and Senior Vice President of Finance.
Allegheny Technologies Incorporated Appoints Terrence L. Hartford as Vice President, ATI Defense
May 12 15
Allegheny Technologies Incorporated announced that Terrence L. Hartford has been named Vice President, ATI Defense effective immediately. In this new position, Mr. Hartford will be responsible for leading ATI’s Defense Market Sector Team in developing strategies to grow ATI’s business across all branches of the U.S. military and on all major Navy, Marine, Air Force and Army platforms. Mr. Hartford will report to Kevin B. Kramer, ATI’s Senior Vice President and Chief Commercial and Marketing Officer. Mr. Hartford will be based in Washington, D.C.
Allegheny Technologies Inc. Declares Quarterly Dividend, Payable on June 17, 2015
May 1 15
Allegheny Technologies Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.18 per share of common stock. The dividend is payable on
June 17, 2015 to stockholders of record at the close of business on May 27, 2015.
Allegheny Technologies Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Capital Expenditure Guidance for the Year 2015
Apr 21 15
Allegheny Technologies Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's sales were $1,125.5 million compared to $987.3 million a year ago. Income before interest, other income and income taxes was $46.4 million compared to $2.5 million a year ago. Income from continuing operations before income taxes was $20.6 million compared to loss from continuing operations before income taxes of $26.0 million a year ago. Income from continuing operations was $12.6 million compared to loss from continuing operations of $16.0 million a year ago. Net income was $12.6 million compared to net loss of $17.9 million a year ago. Net income attributable to ATI was $10.0 million compared to loss of $20.0 million a year ago. Diluted net income per common share from continuing operations attributable to ATI per common share was $0.09 compared to loss of $0.17 a year ago. Diluted net income attributable to ATI per common share was $0.09 compared to loss of $0.19 a year ago. Income from continuing operations, net of tax attributable to ATI common stockholders was $10.0 million compared to loss of $18.1 million a year ago. Cash provided by operating activities was $12.0 million compared to cash used in operating activities of $56.9 million a year ago. Purchases of property, plant and equipment was $22.6 million compared to $39.6 million a year ago. Net debt was $1,289.0 million compared to $1,257.4 million as on December 31, 2014.
Including remaining payments associated with the HRPF project, the company currently expects 2015 capital expenditures to be approximately $290 million, of which $23 million was spent in the first quarter.