[MEA] METALICO INC > 10.40 +0.8 ( +8.33%)
Metalico, Inc., through its subsidiaries, operates as a ferrous and non-ferrous scrap metal processor, as well as lead-based products fabricator in the United States. The company's Ferrous and Non-Ferrous Scrap Metal Recycling segment collects industrial and obsolete scrap metal; processes into reusable forms; and supplies the recycled metals to electric arc furnace mills, steel mills, foundries, secondary smelters, aluminum recyclers, and metal brokers in the United States and Canada, as well as to exporters and international brokers. It offers ferrous products, which include sheared and bundled scrap metal, and other scrap metal, such as turnings and busheling, and cast and broken cast iron; and prepares non-ferrous scrap metals, principally aluminum, stainless steel, copper, and brass for resale. Metalico's Lead Product Fabricating segment produces and sells sheet lead; shot under the Lawrence and West Coast Shot brands; cast lead in pig, ingot, brick, and rectangular forms; strip lead; extruded wire, pipe, and bar products; and other lead products, including roof flashings, lead wool, anodes, and babbitt. This segment sells its products for use in the roofing, plumbing, radiation shielding, electronic soldering, ammunition, and automotive industries, as well as to the Department of Defense contractors in the United States. As of December 31, 2006, the company operated six scrap metal recycling facilities located in western New York. It also operated five lead product fabricating plants located in Birmingham, Alabama; Healdsburg and Ontario, California; Carson City, Nevada; and Granite City, Illinois.
Thursday October 25, 8:55 am ET
Metalico Reports Record Earnings in Third Quarter
CRANFORD, N.J.----Metalico, Inc., a scrap metal recycler and lead products fabricator, today announced 2007 Third Quarter net income of $5.3 million or $0.17 per share, the best in the Company’s history for a calendar quarter. Net income increased by 130% over results for the quarter ended September 30, 2006 of $2.3 million or $0.09 per fully diluted share. Metalico’s strong performance reflected record sales of $102.1 million for the recent quarter, compared to sales of $55.4 million for the same quarter in the prior year. biz.yahoo.com
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