1/9/2013 11:27:00 AM
NEWS BRIEFS
Alcoa Fastening Segment Achieves Record ATOI

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Alcoa reported sales at its Engineered Products segment, including Alcoa Fastening Systems, edged down to $1.34 billion in the final quarter of 2012, with third-party shipments slipping 1.8% to 52 kmt.
Fourth-quarter ATOI totalled $137 million, down $23 million sequentially and up $15 million, or 12%, year-on-year. 

“Sequentially, cost increases and unfavorable volume and price/mix were somewhat offset by continued productivity improvements,” the company stated. “The year-on-year improvement was driven primarily by productivity gains, partially offset by cost increases.”

Engineered Products delivered record fourth quarter ATOI of $137 million, up 12% year-on-year, and achieved record fourth quarter adjusted EBITDA margin of 17.7%, the fourth consecutive quarter a year-over-year record was established.

Full-year Engineered Product sales gained 3.4% to $5.5 billion, with third-party shipments up slightly to 222 kmt. ATOI grew 13.5% to $612 million.

Engineered Products ended the year with a record annual adjusted EBITDA margin of 19.2% — more than double where it was 10 years ago.

Overall Alcoa revenue fell 5% to $23.7 billion on lower LME pricing. Income from continuing operations reached $191 million, or $0.18 per share; excluding special items, income from continuing operations of $262 million, or $0.24 per share. ©2013 GlobalFastenerNews.com

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