Metal recycler, lead producer expects strong first half

March 11 -- While reporting a $3.4 million loss for 2009, recycler and lead producer Metalico Inc. said in an earnings report today the company expects the first and second quarters of 2010 to be strong as prices for ferrous scrap increases and demand for non-ferrous materials including aluminum, increases due to a reviving steel industry in the United States.

The $3.4 million loss for 2009, or $0.08 per share, is compared to a loss of $43.7 million, or $1.25 per share, in 2008.

While sales decreased from $818.2 million in 2008 to $526.5 million in 2009, the company said operating income for 2009 rose to $13.7 million, compared to a $40 million loss the previous year. Both of the company’s main segments reversed losses of the previous year and posted income of $12.9 million for scrap and $2.7 for lead fabrication.

Metalico Inc., based in New Jersey, operates ferrous and non-ferrous scrap metal recycling, and lead-based products fabrication. Included are 24 recycling facilities in New York, Pennsylvania, Ohio, West Virginia, New Jersey, Texas, and Mississippi and four lead fabricating plants in Alabama, Illinois, and California.

A transcript of a conference call discussing the 2010 results is online at www.metalico.com.

Contact Waste & Recycling News reporter Amanda Smith-Teutsch at 330-865-6166 or asmith-teutsch@crain.com