MRC Global Inc. (MRC) reported a net loss for the fourth quarter of $6.4 million or $0.06 per share, compared to net income of $3.6 million or $0.04 per share for the year-ago quarter.
Fourth quarter 2012 net loss included pre-tax charges totaling $0.61 per share related to the redemption of the company's outstanding 9.50% senior secured notes and the termination of a pension plan in the Netherlands. Excluding those charges, adjusted net income for the fourth quarter of 2012 was $56.4 million, or $0.55 per share.
Fourth quarter 2012 results reflected a $27.2 million benefit relating to the use of the last-in, first-out method of inventory cost accounting.
Sales for the fourth quarter remained essentially flat with last year at $1.31 billion.
Analysts polled by Thomson Reuters expected the company to earn $0.47 per share on revenue of $1.39 billion for the fourth quarter. Analysts' estimates typically exclude special items.
Looking forward to the full year 2013, the company forecast revenue of $$5.75 billion to $6.05 billion and earnings of $2.10 to $2.35 per share. Analysts currently expect the company to earn $2.49 per share on revenue of $6.14 billion for the full year 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.