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Re: None

Tuesday, 05/08/2007 7:33:01 AM

Tuesday, May 08, 2007 7:33:01 AM

Post# of 1522
TIE 32-34 beats by $0.03 earnings of $0.41 per share, $0.03 better than the Reuters Estimates consensus of $0.38; revenues rose 19.1% year/year to $341.7 mln vs the $334.6 mln consensus. "We expect to be operating at full annual capacity of ~12,600 metric tons by the end of Q3 of 2007. Our electron beam cold hearth addition (Morgantown, Pennsylvania) of ~8,500 metric tons of melted product annual capacity is on schedule for an anticipated completion date of early 2008. We have commenced design and engineering efforts for a new VDP sponge plant, which could initially provide an additional 10,000-20,000 metric tons of annual capacity of premium-grade sponge as early as the end of 2009. We have also entered into an extension of an existing third party sponge supply agreement that will provide for the ability to purchase up to 2,600 metric tons of additional sponge beginning in 2009 through 2016."



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