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Stock impact report

Haynes International, Inc. Reports First Quarter Fiscal 2018 Financial Results

Haynes International, Inc. (HAYN) 
Last haynes international, inc. earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: haynesintl.com/contact/investor-relations
Company Research Source: GlobeNewswire
First quarter financial results include the impact of the U.S. Tax Cuts and Jobs Act which reduced U.S. statutory tax rate and required a revaluation of the net deferred tax asset based upon the lower rate.  Calculation of first quarter tax provision, when compared to the previous effective tax rate of 40%, resulted in a charge of $19.6 million or $(1.58) per diluted share.First quarter net revenues of $89.7 million compared to net revenues of $93.4 million for the same period of fiscal 2017.  Second quarter net loss of $(22.5) million, or $(1.82) per diluted share, includes the charges noted above of $19.6 million or $(1.58) per diluted share.  Excluding this impact, first quarter net loss of $(2.9) million or $(0.24) per diluted share (see reconciliation of this non-GAAP measure in appendix).Backlog of $205.7 million at December 31, 2017, an increase of 16.0% from $177.3 million at September 30, 2017.Capital investment in first quarter  fiscal 2018 of $3.2 million and forecast for c Show less Read more
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