ERSO Empire Resources Inc. featured news, full reports, and detailed charts
Empire Resources Inc. (ERSO/ERSO.PK) Wrap Up:
Empire Resources, Inc. engages in the purchase, sale, and distribution of semi-finished aluminum products in the United States, Canada, Europe, Australia, and New Zealand. The company?s products include aluminum coil/sheet, plate and foil, treadplate, circles, profiles, rod, bar and wire, and extruded and cast products. It serves customers in transportation, automobile, housing, appliances, and packaging industries. Empire Resources sells its products through its own marketing and sales personnel, as well as through independent sales agents. The company was founded in 1990 and is headquartered in Fort Lee, New Jersey.Empire Resources Inc. (ERSO:Pink OTC Markets Inc - Premier QX)
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Market Cap
14.0M
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Total Revenue
324.9M
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EBITDA
10.6M
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DILUTED EPS TTM
0.22
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P/E
6.9x
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P/S
0.0x
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Return On Asset
3.81
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Return On Equity
6.47
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| K = Thousands M = Millions B = Billions | ||
ERSO Top Compensated Officers
Executives, Board Directors
Key developments for Empire Resources Inc. (ERSO)
Empire Resources Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net sales of $51,478,000 compared to $124,510,000 for the same period a year ago. Operating loss was $1,555,000 compared to operating income of $3,669,000 for the same period a year ago. Loss before income taxes was $2,850,000 compared to income before income taxes of $1,772,000 for the same period a year ago. Net loss was $1,511,000 or $0.16 diluted per share compared to net income of $1,127,000 or $0.11 diluted per share for the same period a year ago. For the nine months, the company reported net sales of $170,656,000 compared to $347,803,000 for the same period a year ago. Operating income was $2,140,000 compared to $10,630,000 for the same period a year ago. Loss before income taxes was $2,148,000 compared to income before income taxes of $5,276,000 for the same period a year ago. Net loss was $1,084,000 or $0.11 diluted per share compared to net income of $3,307,000 or $0.33 diluted per share for the same period a year ago. The three and nine month loss is primarily attributable to the onetime charge for the shuttering of the Company's extrusion facility in Baltimore, Maryland. For the quarter, the company reported asset impairment was $2,966,000.
Empire Resources Inc. announced that its board of directors has declared a cash dividend of $0.025 per share. The dividend is payable on October 21, 2009 to stockholders of record at the close of business on October 5, 2009.
Empire Resources Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the second quarter, the company reported net income was $209,000 or $0.02 per diluted share as compared to $1,068,000 or $0.11 per diluted share for the same period in 2008. Net sales were $54,732,000 against $104,264,000 for the same period in 2008. Operating income was $1,789,000 against $3,527,000 for the same period in 2008. Income before income taxes was $355,000 against $1,729,000 for the same period in 2008. For the six months, the company reported net income was $427,000 or $0.04 per diluted share as compared to $2,180,000 or $0.22 per diluted share for the same period in 2008. Net sales were $119,178,000 against $223,293,000 for the same period in 2008. Operating income was $3,695,000 against $6,961,000 for the same period in 2008. Income before income taxes was $702,000 against $3,504,000 for the same period in 2008.
ERSO Competitors
| Company | Last | Change |
| ALCOA Inc | $13.22 USD | 0.00 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | ERSO | Industry Range |
| Price/Earnings | 6.9x |
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| Price/Sales | 0.0x |
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| Price/Book | 0.4x |
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| Price/Cash Flow | 6.7x |
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| TEV/Sales | NM | Not Meaningful |
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ERSO |
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ERSO transactions
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| No transactions in the last 6 months. | ||
More Recent News About Empire Resources Inc.
More news for ERSO
Empire Resources Announces Third Quarter Operating Results
FORT LEE, N.J., Nov. 16 /PRNewswire-FirstCall/ -- Empire Resources, Inc. (OTCQX: ERSO) , a distributor of value added, semi-finished aluminum products, today announced a net loss for the three and nine months ended September 30, 2009 of $1,511,000 and $1,084,000 as compared to net income of $1,127,000 and $3,307,000 for the same periods in 2008. Net income for the three and nine months ended September 30, 2009 was ($0.16) and ($0.11) per share on a fully diluted basis as compared to $0.11 and $0.33 per share on a fully diluted basis for the same periods in 2008. The three and nine month loss is primarily attributable to the onetime charge for the shuttering of the Company's extrusion facility in Baltimore, Maryland. Net sales for the three and nine months of 2009 were $51,478,000 and $170,656,000 as compared to $124,510,000 and $347,803,000 for the same periods in 2008.Empire Resources, Inc., is a distributor of a wide range of semi-finished aluminum products to customers in the transportation, automotive, housing, appliance and packaging industries in the U.S., Canada, Australia, New Zealand and Europe. It maintains supply contracts with aluminum mills in various parts of the world.This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks include, but are not limited to, the ability of the company to grow internally or by acquisition and to integrate acquired businesses, not being able to improve operating margins and efficiencies, changing industry and competitive conditions, and other risks referred to in the Company's publicly available statements and periodic reports.(Table Follows)Consolidated Statements of Income (unaudited)In thousands, except per share amounts ...Click here to read the whole Article (external link)
Empire Resources Announces Closure and Write-Down of its Baltimore Extrusion Press and Announces Third Quarter Dividend
FORT LEE, N.J., Sept. 30 /PRNewswire-FirstCall/ -- Empire Resources, Inc. (OTCQX: ERSO), a distributor of value added, semi-finished aluminum products, today announced that it plans to shutter the extrusion press at its Baltimore facility and will take a write-down of approximately $2.97 million, or $.31 per share, for the third quarter of 2009, which will result in a loss for the quarter. The decision to shut down the press was the result of the ongoing weakness and overcapacity in the aluminum extrusion marketplace. Nathan Kahn, CEO stated that "The shutdown will permanently relieve the negative financial impact that the Company encountered in attempting to bring the facility online and to full capacity." The Company does not know if or when it will resume extrusion operations in the future.Mr. Kahn further stated that "the shutdown will have no material impact on the Company's core distribution business and will not impact the rest of its Baltimore warehouse and distribution facility."The Company also announced that its Board of Directors has declared a cash dividend of $0.025 per share. The dividend is payable on October 21, 2009 to stockholders of record at the close of business on October 5, 2009.The Board of Directors intends to review its dividend policy on a quarterly basis and a determination by the Board of Directors will be made subject to profitability, free cash flow and the other requirements of the business.Empire Resources, Inc., is a distributor of a wide range of semi-finished aluminum products to customers in the transportation, automotive, housing, appliance and packaging industries in the U.S., Canada, Australia, New Zealand and Europe. It maintains supply contracts with aluminum mills in various parts of the world.This press release contains forward-looking statements. Such statements invol...Click here to read the whole Article (external link)
EMPIRE RESOURCES INC /NEW/ Financials
PERIOD ENDING30-Sep-0830-Jun-0831-Mar-0831-Dec-07Total Revenue124,510 104,264 119,029 108,945 Cost of Revenue118,236 97,981 112,819 103,265 Gross Profit6,274 6,283 6,210 5,680 Operating ExpensesResearch Development - - - - Selling General and Administrative2,605 2,756 2,776 3,219 Non Recurring - - - - Others - - - - Total Operating Expenses - - - - Operating Income or Loss3,669 3,527 3,434 2,461 Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes3,669 3,527 3,434 2,461 Interest Expense1,897 1,798 1,659 1,811 Income Before Tax1,772 1,729 1,775 650 Income Tax Expense645 661 663 179 Minority Interest - - - - Net Income From Continuing Ops1,127 1,068 1,112 471 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - ...Click here to read the whole Article (external link)
EMPIRE RESOURCES INC /NEW/ Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On December 18, 2008, Empire Resources, Inc. (the "Company") notified NYSE Alternext US LLC (formerly known as the American Stock Exchange) (the "AMEX") that its Board of Directors had unanimously voted to voluntarily delist the Company's common stock, par value $0.01 per share (the "Common Stock"), from the AMEX and to terminate the registration of the Common Stock under the Securities and Exchange Act of 1934, as amended. In connection therewith, the Company intends to file Form 25 with the Securities and Exchange Commission (the "SEC") on or about December 29, 2008, and the Company anticipates that the delisting will become effective ten (10) days later. On or about January 9, 2009, the effective date of the delisting, the Company intends to file a Form 15 with the SEC to effect the deregistration of the Common Stock. The Company is eligible to deregister by filing Form 15 because it has fewer than 300 holders of record of its Common Stock. Upon the filing of the Form 15, the Company's obligations to file certain reports with the SEC, including Forms 10-K, 10-Q and 8-K, will immediately be suspended. The Company expects the deregistration to become effective ninety (90) days after filing the Form 15 with the SEC. The Company issued a press release with respect to this matter, a copy of which is attached hereto as Exhibit No. 99.1 and is incorporated by reference herein. Cautionary Statement Regarding Forward-Looking Statements The current report on Form 8-K and the exhibit hereto contain certain statements that may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the Company's current plans, expectations, estimates, and projections about the semi-finished aluminum products industry and manage...Click here to read the whole Article (external link)
EMPIRE RESOURCES INC /NEW/ Financials
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Morningstar, Inc. Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. R...Click here to read the whole Article (external link)