Synalloy Corporation (NASDAQ: SYNL)
Synalloy Corporation - Symbol SYNL - recorded sales of $40,241,000 for the fourth quarter of 2011, up 7% from 2010. Net earnings for the quarter were $1,017,000, or $0.16 per share, down 30% from the prior year. This compares to sales of $37,639,000 and net earnings of $1,462,000, or $0.23 per share, in the fourth quarter of 2010. For the year 2011, sales were $170,575,000, up 13% from sales of $151,121,000 in 2010. Net earnings for 2011 increased 44% to $5,797,000 or $0.91 per share compared to $4,034,000 or $0.64 per share for 2010.
On its Metals Segment, Sales increased 9% to $29,974,000 while operating income increased 35% to $1,948,000 in the fourth quarter of 2011 from the same period a year earlier.
The Specialty Chemicals Segment’s revenues increased for the fourth quarter of 2011 by 2% compared to the fourth quarter of 2010.
SYNL, together with its subsidiaries, manufactures and sells pipes and piping systems in the United States and internationally. It operates in two segments, Metals and Specialty Chemicals.
For more information about SYNL please visit http://www.synalloy.com
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Minerals Technologies Inc. (NYSE: MTX) previously reported record earnings per share of $3.77 for the full year of 2011 compared with earnings of $3.58 in the prior year, excluding special items, an increase of 5 percent. As reported, Minerals Technologies recorded a net income of $67.5 million, or $3.73 per share, in 2011. Minerals Technologies` worldwide sales for the full year 2011 were $1.04 billion compared with $1.0 billion recorded in 2010, a 4-percent increase. Foreign exchange had a favorable impact on sales of $21 million, or 2 percentage points of growth. Revenue increased in each of the company`s product lines in 2011. Operating income for the full year 2011, excluding special items, was $100.8 million as compared to $99.1 million in the prior year. Operating income, as reported, was $100.3 million.
Minerals Technologies Inc., a resource and technology-based company, develops, produces, and markets various specialty mineral, mineral-based and synthetic mineral products, and related systems and technologies worldwide.
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Hess Corporation (NYSE: HES) recently reported a net loss of $131 million for the fourth quarter of 2011 compared with net income of $58 million for the fourth quarter of 2010. Exploration and Production earnings were $527 million in the fourth quarter of 2011 compared with $420 million in the fourth quarter of 2010. The Corporation’s average worldwide crude oil selling price, including the effect of hedging, was $89.70 per barrel, up from $71.73 per barrel in the same quarter a year ago. The average worldwide natural gas selling price was $6.32 per Mcf in the fourth quarter of 2011, up from $5.30 per Mcf in the fourth quarter of 2010. Fourth quarter oil and gas production was 367,000 barrels of oil equivalent per day, compared with 420,000 barrels of oil equivalent per day in the fourth quarter a year ago, largely due to production interruptions and asset sales. Fourth quarter 2011 results included higher exploration expenses reflecting total dry hole costs of $236 million ($143 million after-tax), primarily associated with two exploration wells on the Semai V Block, offshore Indonesia.
Hess Corporation and its subsidiaries operate as an integrated energy company. It operates in two segments, Exploration and Production (E&P) and Marketing and Refining (M&R).
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Synovus Financial Corp. (NYSE: SNV) Chairman and CEO, Kessel D. Stelling, will present at the 13th Annual Credit Suisse Financial Services Forum on Thursday, February 9, 2012 at 11:45 a.m. ET in Miami. Shareholders and other interested persons may listen to this presentation via simultaneous Internet broadcast by going to www.synovus.com/webcasts. You may download RealPlayer or Windows Media Player (free download available) prior to accessing the presentation. The webcast will be archived for 60 days.
Synovus Financial Corp., a diversified financial services and bank holding company, provides commercial and retail banking, financial management, insurance, and mortgage services in Georgia, Alabama, South Carolina, Florida, and Tennessee.
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