WHX (WXCO) Issues Preliminay Q110 Results
As a result of the expected increase in Adjusted EBITDA in the first quarter of 2010 versus 2009, WHX Corporation (NASDAQ: WXCO) today announced preliminary results for the first quarter ended March 31, 2010. Such information remains preliminary prior to the filing of the Company's Form 10Q for the three months ended March 31, 2010.
WHX Corporation expects to report sales from continuing operations of approximately $146 million, net loss from continuing operations of between $2.7 to $1.9 million, and Adjusted EBITDA of $10.7 to $11.1 million in the first quarter of 2010.
By comparison, the Company generated sales from continuing operations of $127.2 million, net loss from continuing operations of $9.8 million and Adjusted EBITDA of $3.6 million in the first quarter of 2009.
"Many of our business segments experienced higher sales volume in the first quarter reflecting somewhat improved economic conditions compared with the first quarter of 2009," commented Glen Kassan, Vice Chairman of the Board and Chief Executive Officer of WHX.
WHX estimates that its debt was approximately $182.7 million at the quarter ended March 31, 2010, up approximately $8.5 million from $174.2 million at December 31, 2009 due primarily to seasonal working capital requirements and the level of business activity in December 2009 versus the end of the first quarter of 2010.
WHX Corporation expects to report sales from continuing operations of approximately $146 million, net loss from continuing operations of between $2.7 to $1.9 million, and Adjusted EBITDA of $10.7 to $11.1 million in the first quarter of 2010.
By comparison, the Company generated sales from continuing operations of $127.2 million, net loss from continuing operations of $9.8 million and Adjusted EBITDA of $3.6 million in the first quarter of 2009.
"Many of our business segments experienced higher sales volume in the first quarter reflecting somewhat improved economic conditions compared with the first quarter of 2009," commented Glen Kassan, Vice Chairman of the Board and Chief Executive Officer of WHX.
WHX estimates that its debt was approximately $182.7 million at the quarter ended March 31, 2010, up approximately $8.5 million from $174.2 million at December 31, 2009 due primarily to seasonal working capital requirements and the level of business activity in December 2009 versus the end of the first quarter of 2010.
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