Metalico Inc. (MEA)

[Hostile Takeover]

Metalico Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2011. For the quarter, the company reported net income of $6,645,000 or $0.14 per diluted share compared to $4,418,000 or $0.10 per diluted share last year. Operating income was $11,401,000
compared to $6,748,000 last year. Income before income taxes was $9,648,000 compared to $6,461,000 last year. EBITDA was $15,762,000 compared to $10,738,000 last year. Adjusted net income was $6,000,000 or $0.13 per share compared to $2,355,000 or $0.06 per share last year. Revenue was $178,492,000
compared to $144,575,000 last year. Capital expenditures for the second quarter totaled $5 million compared to $2.5 million a year ago. For the six months, the company reported net income of $15,408,000 or $0.33 per diluted share compared to $7,932,000 or $0.17 per diluted share last year. Operating income was $28,385,000 compared to $20,353,000 last year. Income before income taxes was $24,074,000 compared to $13,024,000 last year. EBITDA was $36,650,000 compared to $28,435,000 last year. Revenue was $360,459,000 compared to $278,654,000 last year. The company provided tax rate guidance for the full year of 2011. The
company expected the actual tax rate is higher than on the 31% that shows on the face on the financial.