Metalico Inc. (MEA)

[polkamatic]

InPlay: Metalico misses by $0.02, beats on revs (MEA) 4.37 : Reports Q2 (Jun) earnings of $0.10 per share, $0.02 worse than the Thomson Reuters consensus of $0.12; revenues rose 131.7% year/year to $144.6 mln vs the $122.6 mln consensus. Co stated that "it believed that, going into the third quarter, domestic ferrous scrap prices have reached a plateau and demand is somewhat more stable. Metalico expects prices and demand to strengthen over the period. While intake of ferrous scrap at its yards has been below expectations since May, Metalico used the second quarter lull as a buying opportunity and is well positioned with ample inventories to participate in the anticipated improvement in the ferrous markets and stronger pricing for non-ferrous commodities."

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