New ETF Book by Larry Connors - Click here to read more
You see, our newsletter is truly different from the rest. We provide lots of content in our mailers with tons of information that the average person can understand. We don't waste time trying to uncover ideas that might move a wimpy 5-10% in a few months like most other guys. No, we're looking at stocks that can explode 50+% or more in a matter of days! Join Here!
Today's news alerts include: Steel Dynamics Provides Second Quarter Earnings Guidance
FORT WAYNE, Ind., June 19, 2009 -- Steel Dynamics, Inc. (Nasdaq: STLD | Quote | Chart | News | PowerRating) today provided its outlook for the second quarter of 2009. Steel Dynamics now anticipates a small loss of $0.10 to $0.15 per diluted share in the second quarter after taking into account the recent issuance of common stock and convertible securities. The effect of the increase in share count in calculating diluted earnings per share for the second quarter is predominantly offset by certain expenses related to the repayment of our term loan in June, resulting in little impact on diluted per-share earnings this quarter.
The company had provided qualitative guidance in April suggesting the possibility of improving results in the second quarter, indicating that the second quarter could be close to breakeven, possibly showing a small loss or a small profit. The expected small loss in the second quarter marks an improvement compared to a reported first-quarter loss of $0.48 per diluted share.
"As we expected early in the quarter, we have experienced some improvement in flat-roll steel order entry and shipping volumes as the quarter progressed while, at the same time, pricing continued to erode," said Keith Busse, Chairman and CEO. "I do believe, though, that flat-roll pricing has finally bottomed and is currently moving higher. Our principal weakness in steel operations remains at our Structural and Rail Division, with our other steel operations experiencing steady or improving results. On balance, we expect our steel operations to produce a small operating profit in the second quarter while operating at a quarterly utilization rate of about 50 percent. Our metals recycling operations are now expected to produce a small second-quarter operating loss, although showing month-to-month improvement and an expected profit for the month of June.
"Regarding costs, we have benefited from consuming lower-cost scrap at our steel mills during the quarter. We are, at all of our operations, exercising tight cost control, implemented successfully through the cooperation, support, and ideas of our dedicated employees. During the first half of this year we have right-sized the workforce at OmniSource operations by approximately 20 percent based on a review of the ongoing staffing levels required to maintain future operating volumes and customer service.
"The outlook for the remainder of the year remains uncertain, but is improving, as demand is strengthening for some of our steel products and recycled metals. We now expect to be profitable in the third and fourth quarters of 2009 assuming only a modest increase in production volume. Steel Dynamics is in an excellent position to take advantage of any improvement in order flow in the second half as our operations are poised to increase production rates. Our production facilities are in top-notch operating condition with adequate raw materials on hand or available, and our trained workforce is 'at the ready'," Busse said.
Forward-Looking Statements
This press release contains some statements that express the company's opinions, expectations or projections regarding future events or future results, in contrast with statements that reflect historical facts. These predictive statements, which are generally preceded or accompanied by such conditional words as "anticipate," "intend," estimate," "plan," "seek," "project" or "expect," or by the words "may, "should" or "could," are intended to operate as "forward looking statements" of the kind permitted by the Private Securities Litigation Reform Act of 1995. That legislation protects such predictive statements by creating a "safe harbor" from liability in the event that a particular prediction does not turn out as anticipated.
Forward looking statements are not guarantees of future performance, and one should not place undue reliance on such statements. Forward looking statements speak only as of the date of their release and are subject to many uncertainties, many of which are outside of our control, that could cause actual results to differ materially from those that were anticipated.
Some, but not necessarily all, of the factors that could cause such predictive statements to turn out other than as anticipated or predicted include, among others: cyclical changes in supply and demand affecting steel and scrap metal prices and consumption; increased price competition affecting sales or margins; excess domestic or global steelmaking capacity and imports of low priced steel; the duration and continued effects of a prolonged economic recession upon general industrial activity and upon the demand for our products; difficulties in integrating acquired businesses; risks and uncertainties involving new products or new technologies; changes in the availability or cost of steel scrap or substitute materials; increases in energy costs; occurrence of unanticipated equipment failures and plant outages; labor unrest; and the effect of the elements on production or consumption.
In addition, we refer you to SDI's detailed explanation of these and other factors and risks that may cause such predictive statements to turn out differently, as set forth in our most recent Annual Report on Form 10-K and in other reports which we from time to time file with the Securities and Exchange Commission, available publicly on the SEC Web site, www.sec.gov, and on the Steel Dynamics Web site, www.steeldynamics.com
About PicksThatMove.com
www.picksthatmove.com team of excellence strives to find undervalued, good momentum stock plays. We provide financial and investor relations services for small to mid-cap stocks with weekly and special newsletters to keep you informed of the latest movers. Unlike other sites, we explore, research, and understand all aspects of a company. We only recommend companies we feel has the potential for future higher valuations. Our seasoned research team is always looking for the next Xtreme Pick to send to you.
www.picksthatmove.com is a leading stock website that provides free daily alerts on stocks that are moving up. www.picksthatmove.com also tracks small cap stocks that are on the brink of exploding. We also feature companies on our website with research report, analysis, and newsletters. To feature a company on our web site please contact us at Info@picksthatmove.com
www.picksthatmove.com is an independent electronic publication that provides information on selected publicly traded companies. www.picksthatmove.com is not a registered investment advisor or broker-dealer. www.picksthatmove.com affiliates, officers, directors and employees may buy and sell additional shares in any company mentioned herein and may profit in the event those shares rise in value. Please do your own Due Diligence before investing in any of the stocks mentioned above.
CONTACT: PicksThatMove.com e-mail: Info@picksthatmove.com WWW: http://www.picksthatmove.com
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
