ASHLAND, Ky.--(BUSINESS WIRE)--ALJ Regional Holdings, Inc. (Pink Sheets: ALJJ) announced results for the third quarter ended June 30, 2012. ALJ Regional Holdings, Inc. (ALJ) is the parent company of KES Acquisition Company dba Kentucky Electric Steel, the owner and operator of a steel mini-mill near Ashland, Kentucky.
For the third quarter of fiscal 2012, revenue was $42.1 million, compared to $43.2 million for the same period last year. Net income was $2.52 million, compared to $2.55 million for the third quarter of fiscal 2011. For the nine months ending June 30, 2012, revenue was $125.4 million, compared to $116.1 million for the same period last year. Net income for the first nine months of fiscal 2012 was $7.3 million, compared to $5.5 million for the same period last year.
According to John Scheel, ALJ’s Chief Executive Officer, “The third quarter of fiscal 2012 was similar to the third quarter of fiscal 2011. Sales volume was off slightly as the strong SBQ market of fiscal 2012 lost some of its steam, particularly in June. Fiscal 2012 results to date are better than those for fiscal 2011 due to that strong SBQ market, but the recent softness, especially in SBQ, will likely impact our fourth quarter.”
|ALJ Regional Holdings, Inc.|
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|3 months Ended June 30|
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Full financial reports are available at www.pinksheets.com
About ALJ Regional Holdings
ALJ is the parent company of KES Acquisition Company dba Kentucky Electric Steel, the owner and operator of a steel mini-mill near Ashland, Kentucky producing both merchant bar quality flats (MBQ Bar Flats), and special bar quality steel flats (SBQ Bar Flats).
This press release contains forward-looking statements. Such statements include information regarding the Company’s expectations, goals or intentions regarding the future, including but not limited to statements regarding the impact of the slow-down in the SBQ market on the Company’s fourth quarter and statements including the words "will" and "expect" and similar expressions. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Factors that could cause actual results to differ materially are discussed in the Company’s Annual Report for the fiscal year ended September 30, 2011 and in its other periodic reports issued through the Pink Sheets News Service and available at www.pinksheets.com. All forward-looking statements in this release are made as of the date hereof and the Company assumes no obligation to update any forward-looking statement.