For Q3 2012, Alloy Steel's total sales were US$5.11 million compared to US$4.13 million in the quarter ended 30 June, 2011. Income before tax for Q3 2012 was US$1.70 million or US$0.10 per common share, compared with a loss before tax of US$0.45 million or US$ (0.03) per common share for Q3 2011. Net income after tax was US$1.12 million, or US$0.06 per share, for Q3 2012, compared to net loss after tax of US$0.46 million, or ($0.03) per common share, for Q3 2011.
For Q3 2012 year-to-date, Alloy Steel's total sales were US$22.10 million compared to US$14.51 million for the year ended 30 June, 2011. Income before tax for Q3 2012 YTD was US$4.73 million or US$0.27 per common share.
For Q3 2012 YTD, sales at Alloy Steel were 52% higher than Q3 2011 YTD. This growth in sales is indicative of increased investment in Arcoplate applications from the Australian iron ore sector. Alloy Steel International says that it continues to explore the diversification of its customer base to reduce any reliance on one customer only, as the continuing reduction in the iron ore price may temper this industry’s activity.