Gibraltar Industries, Inc. - Conference Presentation Calls

Gibraltar Industries, Inc. expected to Report Fiscal Year 2009 Results on February 22, 2010. This event was calculated by Capital IQ (Created on November 5, 2009).

Gibraltar Industries Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. The company reported its third-quarter sales increased 4% to $225 million, compared to the second quarter of 2009, as the automotive market rebounded from historic lows and building product markets held steady. In the third quarter of 2009, income from continuing operations before special charges was $8.3 million, or $0.28 per diluted share, compared to a net loss of $0.3 million, or a $0.01 loss per diluted share, in the second quarter of 2009. Pre-tax special charges totaled $4.8 million, or $0.12 per diluted share, and $0.4 million, or $0.01 per diluted share, for the third and second quarters of 2009, respectively. The sum of the items above resulted in GAAP earnings per diluted share from continuing operations of $0.16 for the third quarter of 2009, compared to a loss per diluted share of $0.02 for the second quarter of 2009. For the quarter, the company reported income from operations of $14.8 million and income before taxes of $7.04 million compared to income from operations of $34.8 million and income before taxes of $28.2 million for the same period a year ago. In the first nine months of 2009, sales were $647 million, a decrease of 34% compared to the first nine months of 2008, primarily driven by large unit-volume declines resulting from sharply weaker end markets. The loss from continuing operations in the first nine months of 2009 was $3.7 million, a $0.12 loss per diluted share, excluding special charges. The company incurred an after-tax non-cash goodwill impairment charge of $15.1 million, or $0.50 per diluted share, during the three months ended March 31, 2009 along with the special charges described above during the second and third quarters of 2009. The sum of the items above resulted in a GAAP loss per diluted share from continuing operations of $0.77 for the first nine months of 2009, compared to income of $1.44 per diluted share for the first nine months of 2008. For the nine months, the company reported loss from operations of $18.01 million and income before taxes of $37.4 million compared to income from operations of $89.2 million and income before taxes of $67.7 million for the same period a year ago. For the period, the company reported net cash provided by operating activities of $111.59 million and purchase of property, plant and equipment of $8.07 million compared to net cash provided by operating activities of $76.9 million and purchase of property, plant and equipment of $13.6 million for the same period a year ago.