Kokomo Tribune; Kokomo, Indiana

Local News

November 17, 2012

Haynes reports higher revenues

Numbers up but CEO wants to improve capacity.

Haynes International Inc. reported its fourth-quarter net revenue as $579.6 million, a 6.8 percent increase over fiscal year 2011, in a conference call Friday morning.

Mark Comerford, president and CEO, said the metal alloy manufacturer’s net income increased more than 60 percent in 2012 to $50.2 million. He said pounds shipped this year were down 1 percent from last year, but that the average selling price per pound increased.

“I feel we’ve continued to position Haynes for greater success as all of these markets move into a growth trajectory,” he said.

Comerford said the company will be able to bring on an increased capacity with more success in coming quarters.

“We also had a record year in the tubular products area,” he said. “But to be honest with you, we’ve never felt worse about it. The tubular products side is still heavily booked and quoting lead times of roughly one year. In my opinion, we had a great year, great volume, the people in the plants did a great job, but we still disappointed customers.”

He said he hopes they will reach a higher capacity by the end of 2013.

Overall, he said specialty metals manufacturers were unsure of how the next few years would look, but foresees some segments — like chemicals the company produces for fertilizers and pharmaceuticals — to grow in the next decade.

“The current economic environment continues to be uncertain, and we may be challenged over the next several quarters,” said Marcel Martin, chief financial officer. “However, we have a business plan and continue to work at that plan.”

Megan Graham is the Kokomo Tribune business reporter. She

can be reached by phone at

765-454-8570, email at

megan.graham@kokomotribune.com

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