ALJ Releases Third Quarter Revenue Performance

Thu. July 09, 2009; Posted: 05:36 PM

ASHLAND, Ky., Jul 09, 2009 (BUSINESS WIRE) -- ALJJ | Quote | Chart | News | PowerRating -- ALJ Regional Holdings, Inc. (Pink Sheets:ALJJ) posted revenues of $19.4 million and $85.9 million for the three months and nine months, respectively, ended June 30, 2009. This compares to $51.1 million and $133.4 million for the comparable three month and nine month periods in fiscal 2008. 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.

According to John Scheel, ALJ's Chief Executive Officer, "The revenue for the first three quarters and third quarter of Fiscal 2009 was down 36% and 62% from the comparable periods in Fiscal 2008 and sales volumes for the same periods were off by 37% and 50%, respectively. Like most companies in the steel industry, we have been affected by not only lower volume but also by lower pricing. The third quarter of Fiscal 2008 was a period of relatively high pricing so that finished good's prices for the third quarter of Fiscal 2009 were off by 24%. We believe that our results reflect the industry-wide reduction in demand for steel products. We have seen stabilization of sales volumes in the last quarter and we believe that the market is poised for a protracted recovery. Further, KES has continued to maintain positive operating income and, as such, is in a good position to take advantage of any recovery."

This press release contains forward-looking statements. Such statements include information regarding the stabilization of sales volumes, a possible market recovery and ALJ's ability to take advantage of any market recovery. Forward-looking statements involve certain risks and uncertainties and actual results may differ materially from those discussed in any such statement. Among the factors that could cause actual results to differ materially are changes in ALJ's stock price, liquidity needs, market fluctuations or the occurrence of an "ownership change." Additional factors that could cause actual results to differ are discussed in ALJ's Annual Report for the fiscal year ended September 30, 2008 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 ALJ assumes no obligation to update any forward-looking statement.

SOURCE: ALJ Regional Holdings, Inc.

ALJ Regional Holdings, Inc. 
Jess Ravich, 310-312-5605

For full details for ALJJ click here.

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