New this A.M. Looks good!
Form 8-K for ALLOY STEEL INTERNATIONAL INC
4-May-2010
Results of Operations and Financial Condition
ITEM 2.02 Results of Operations and Financial Condition
Preliminary Half Year Profit Advice
Mr G Kostecki, Chief Executive Officer of Alloy Steel International Inc, is very pleased to advise the market of the company's profit performance for the period ending March 31, 2010, being the first six months of the company's fiscal year.
It must be emphasized that these results are still subject to final audit review, but no material changes to the figures are anticipated.
The profit before taxation for the period under review was $3,919,036 (2009 $119,164) an increase of $3,799,872. After taxation impost, the amount attributable to stockholders was $2,617,540.
This profit was generated on sales of $10,970,952 (2009 $3,325,278).
Mr Kostecki commented that this is truly an outstanding result, a tribute to the employees of the company and further proof that the previous downturn in the mining industry is reversing.
The company is expecting this trend to continue and at April 30, 2010, there were confirmed orders of $8,650,000 waiting to go into production.
As the market will perceive the company is starting to garner the benefits from the new super Arcoplate released in the latter half of last year.
The company expects to lodge the 10Q for the period early in the second week of this month.
