Alpine Group Inc. (fka APNI)

[Knowledge is King]

Bought some APNI @$.33; Q3 EPS $.19; book value $.83



Financials are here:


http://www.alpine-group.net/investorrelations.htm


(COMTEX) B: The Alpine Group, Inc. Posts Third Quarter 2011 Results ( Mark
etwire )


EAST RUTHERFORD, NJ, Nov 15, 2011 (MARKETWIRE via COMTEX) --
The Alpine Group, Inc. ("Alpine") (PINKSHEETS: APNI) today posted
its quarterly financial statements for the three months ended
September 30, 2011 to its Website (www.alpine-group.net).

For the three months ended September 30, 2011 revenues increased
$15.0 million from $32.8 million in 2010 to $47.8 million in 2011,
due primarily to higher copper and silver prices and increased
volumes in the manufacture and sale of copper/silver alloys and
joining materials under a toll agreement with a subsidiary of
Wolverine Tube, Inc. Average silver and copper prices were 105% and
23% higher in the third quarter of 2011, respectively, compared to
the third quarter of 2010. Posterloid's revenues were down 30% in the
third quarter of 2011 compared to the same period in 2010, due to
lower demand in the signage business. For the nine months ended
September 30, 2011 Alpine's revenues increased $62.9 million from
$86.5 million to $149.4 million, due to increased volumes related to
the Wolverine Tube toll agreements and higher copper and silver
prices for the first nine months of 2011 compared to the same period
in 2010. Average silver and copper prices were 100% and 29% higher in
the nine months ended September 30, of 2011, respectively, compared
to the same period in 2010.

For the three month period ended September 30, 2011 Alpine had net
income of $3.4 million on a GAAP basis (including a $3.0 million
after tax non-cash LIFO and mark-to-market hedge inventory gains)
compared to a net loss of $1.1 million for the comparable 2010 period
(including a $1.5 million after tax non-cash LIFO inventory charge).
Third quarter 2011 earnings before interest, taxes and depreciation
(EBITDA) were $0.9 million, an improvement of $0.1 million from an
EBITDA of $0.8 million for the third quarter of 2010. The comparative
quarterly improvement in the 2011 results reflects increased
profitability in Exeon's scrap reclamation and metals' operations
offset by lower earnings in Posterloid's signage business. For the
nine month period ended September 30, 2011 Alpine had net income of
$1.2 million compared to a net loss of $0.2 million for the same
period in 2010 (after excluding certain non-cash charges and gains
for both periods). The net income for the nine months ended September
30, 2011 of $3.2 million on a GAAP basis was due primarily to $2.1
million of after tax non-cash mark-to-market inventory hedge gain.
For the nine months ended September 30, 2011, earnings before
interest, taxes and depreciation (EBITDA) were $2.7 million, an
improvement of $2.2 million from an EBITDA of $0.5 million for the
same period in 2010.

Steven S. Elbaum, Alpine's Chairman and Chief Executive Officer,
stated, "Positive third quarter and year to date operating results,
before non cash LIFO inventory and related adjustments, reflect
improvements at Exeon and Posterloid and extend EBITDA improvements
posted in the second half of 2010. Additionally, Alpine's
majority-owned Synergy Cables' revenue, volumes and EBITDA all
continued to improve comparatively in the third quarter. The
completion of the sale of non-core assets by Synergy has reduced
Synergy's debt and increased stockholders equity to $15 million at
June 30, 2011. Alpine carries its $14 million equity investment in
and $1.5 subordinated loan to Synergy on its balance sheet at zero.
Wolverine Tube emerged from bankruptcy in June as a strengthened and
recapitalized company. Thereafter, Alpine was granted 3.2% of the
outstanding stock of Wolverine, an option to purchase an additional
3.2% of Wolverine's outstanding stock at a $70 million equity value
and other financial incentives linked to Wolverine's future
performance. It is anticipated that Wolverine's shareholders' equity
at June 30, 2011 under 'fresh start' accounting will be approximately
$70 million. I am Chairman of the Board of the reorganized Wolverine
and Alpine continues to perform services under a Management
Agreement."

All statements in this press release other than statements of
historical fact are forward-looking statements within the meaning of
the "safe harbor" provision of the Private Securities Litigation
Reform Act of 1995. These statements are based on management's
current expectations and beliefs and are subject to a number of
factors and uncertainties that could cause actual results to differ
materially from those described in this press release. The
forward-looking statements speak only as of the date of this press
release, and the Company expressly disclaims any obligations to
release publicly any update or revision to any forward-looking
statement contained herein if there are any changes in conditions or
circumstances on which any such forward-looking statement is based.

The Alpine Group, Inc. (PINKSHEETS: APNI) has substantial experience
in operating and actively managing companies in which it invests
capital. Alpine has focused on industrial and other businesses that
are underperforming, experiencing financial constraints and will
benefit from operational improvements consolidation and an improved
capital structure. Alpine has actively invested in and operated
leading domestic and global manufacturers of specialty materials,
coatings, wire and cable products and electronic components.

SOURCE: The Alpine Group, Inc.
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