Ampco-Pittsburgh (AP) Posts Q4 Loss of $3.51/Share
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Ampco-Pittsburgh Corporation Announces Fourth Quarter and Full Year 2016 Results
March 14, 2017 8:04 AM EDTCARNEGIE, Pa.--(BUSINESS WIRE)-- Ampco-Pittsburgh Corporation (NYSE: AP) reported consolidated sales for the three and twelve months ended December 31, 2016, of $92.1 and $331.9 million, respectively, versus $55.3 and $238.5 million for the comparable prior year periods. The current year periods include sales of $41.9 and $128.6 million, respectively, attributable to the Q1 2016 acquisition of Ã…kers AB and certain of its affiliated companies (Ã…kers) and the Q4 2016 acquisition of specialty steel maker, ASW Steel Inc. (ASW).
Loss from operations for the three months ended December 31, 2016, was $39.8 million and included impairment losses of $26.7 million, primarily from the impairment of goodwill in the... More
