TIE Slams earnings - again
TIE did it AGAIN.
* Sales up 47%, beating expectations by 10%
* Earnings up 73% - even accounting for a one time gain from the sale of a company, they beat expectations by 30%
Prices continue to rise faster than costs: milled up 30%, and melted by 88%. Volumes increased 9% and 5% respectively.
Backlog rose to $1.1B.
Margins are increasing: they were 32% for the full year but 34% for the quarter
Most exciting is that new production facilities will come on line in the second quarter - that's big upside.
* Sales up 47%, beating expectations by 10%
* Earnings up 73% - even accounting for a one time gain from the sale of a company, they beat expectations by 30%
Prices continue to rise faster than costs: milled up 30%, and melted by 88%. Volumes increased 9% and 5% respectively.
Backlog rose to $1.1B.
Margins are increasing: they were 32% for the full year but 34% for the quarter
Most exciting is that new production facilities will come on line in the second quarter - that's big upside.
posted by Andrew at
8:45 PM
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