Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

AMG Advanced Metallurgical Q1 Profit Declines - Quick Facts

AMG Advanced Metallurgical Group N.V. (AMVMF.PK) posted first quarter net profit attributable to shareholders of $3.5 million or $0.13 per share, lower than $6.97 million or $0.25 per share last year.

Adjusted earnings per share dropped to $0.26 from $0.35 in the same quarter a year ago.

Revenue grew to $323.98 million from $318 million in the prior-year quarter.

Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, "Business was challenging in the first quarter 2012. Demand improved in a number of Advanced Materials products but that was not enough to offset increased costs in mine-based businesses, resulting in a decline in EBITDA. Engineering Systems' order intake was encouraging; however, pricing pressure and changes in product mix resulted in an unsatisfactory performance..."

Moving ahead, despite global uncertainties, AMG targets an increase in revenue and EBITDA in 2012.

Click here to receive FREE breaking news email alerts for AMG Advanced Metallurgical Group N.V. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Bank of England policymakers decided to leave its key rate at a historic low of 0.50 percent in a split vote for the third straight time at the meeting held early this month as a majority of members noticed increased risks from slowing global economy, especially in euro area. Ian McCafferty and Martin Weale sought a quarter point hike in the bank rate, to 0.75 percent. European Central Bank Governing Council member Luc Coene said the central bank could expand its stimulus measures to purchasing instruments other than covered bonds and asset-backed securities, but there is no concrete proposal on corporate bonds, currently. In an interview published in Belgian dailies... Denis Mukwege, a doctor from the Democratic Republic of Congo, has won this year's Sakharov Prize for Freedom of Thought for helping thousands of gang rape victims in the country. The award was instituted by the European Parliament, and the laureate for 2014 was selected by EP President Martin Schulz and the political group leaders. Announcing Europe's top human rights prize Tuesday, Schulz said
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.