Send us Feedback

AK Steel Holding (AKS)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

AKS » Topics » Nine-Month Results

This excerpt taken from the AKS 8-K filed Oct 24, 2006.

Nine-Month Results

For the first nine months of 2006, AK Steel’s net income was $61.3 million, or $0.55 per share, which included after-tax charges of $16.4 million, or $0.15 per share, resulting from the implementation of new labor agreements at the Butler and Zanesville operations, and the reduction in the value of the company’s deferred tax asset due to state tax law changes. In the comparable 2005 period, net income was $39.2 million, or $0.35 per share, which included total non-cash charges of $32.6 million, or $0.30 per share, resulting from the reduction in the value of the company’s deferred tax asset.

Sales for the first nine months of 2006 were a record $4,486.8 million, compared to $4,270.4 million in the first nine months of 2005. Operating profit for the first nine months of 2006 was $147.5 million, or $32 per ton shipped. Excluding the one-time charges of $15.8 million related to the Butler and Zanesville labor contracts, adjusted operating profit for the first nine months of 2006 was $163.3 million, or $35 per ton, compared to $162.3 million, or $34 per ton on the same basis for the first nine months of 2005. A reconciliation of charges to adjusted net income and operating profit for the comparative nine-month periods is illustrated by the following chart:

 

($ Millions)

   

Nine Months Ended

9/30/2006

   

Nine Months Ended

9/30/2005

Reconciliation of Net Income

      

Reported Net Income

    $ 61.3    $ 39.2

Costs Associated With New Butler & Zanesville Labor Agreements (After-Tax)

      10.7      —  

Provision For State Tax Law Changes

      5.7      32.6
             

Adjusted Net Income

    $ 77.7    $ 71.8

Reconciliation of Operating Profit

      

Reported Operating Profit

    $ 147.5    $ 162.3

Costs Associated With New Butler & Zanesville Labor Agreements (Pre-Tax)

      15.8      —  
             

Adjusted Operating Profit

    $ 163.3    $ 162.3

"Nine-Month Results" elsewhere:

CLIFFS NATURAL RESOURCES INC. (CLF)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki