Alloy Steel International Inc. Reports Audited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2012
For the year, the company reported sales of $29,197,188 compared to sales of $21,977,139 for the same period a year ago. For the fourth quarter year to date, sales were 33% higher than fourth quarter year to date 2011. This growth in sales is indicative of increased investment in Arcoplate applications from the Australian mining sector and healthy growth in USA sales of 51% from $1.0 million in 2011 to $1.5 million in 2012. Profit from operations was $5,223,851 compared to $3,086,219 last year. Income before income tax was $5,000,197 compared to $3,259,507 last year. Net income was $3,496,854 compared to $2,425,485 last year. Net income attributable to the company was $3,500,221 or $0.20 per basic and diluted common share compared to $2,440,138 or $0.14 per basic and diluted common share last year. Net cash provided by operating activities was $428,609 compared to $2,617,290 last year. Purchase of property, plant and equipment was $3,953,560 compared to $2,581,685 last year.