Synalloy Updates FY15 Outlook

(RTTNews) - Synalloy Corp. (SYNL) said it expects to report full year 2015 net earnings from continuing operations of between $5.5 million and $7.5 million, or $0.64 per share to $0.86 per share, the midpoint of that range ($0.75 per share) representing a 48% decrease when compared to net earnings from continuing operations of $12.6 million, or $1.45 per share for the full year prior year.

Net sales from continuing operations for fiscal year 2015 are expected between $182.0 million and $192.0 million, with the midpoint of the range ($187.0 million) representing a decrease of $12.5 million or 6.3% when compared to net sales from continuing operations for the year ended January 3, 2015 of $199.5 million.

The Adjusted Net Income for the full year 2015 is expected to be between $7.2 million and $9.2 million, or $0.83 per share to $1.06 per share, the midpoint of that range ($0.94 per share) representing a 19% decrease when compared to Adjusted Net Income from continuing operations of $10.1 million, or $1.16 per share for the same full prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.07 per share and revenues of $195.40 million for the year. Analysts' estimates typically exclude special items.