Highlights: Third Quarter 2014: Net Sales $339 Million, Value Added Revenue $180 Million Operating Income $33 Million; Adjusted EBITDA $41 Million; EBITDA Margin 23% Results Impacted by Two Unanticipated, Temporary Events: Process Refinement to Enhance Quality Attributes of KaiserSelect® Aerospace Plate Resulted in Higher Internal Scrap and Remakes of Plate Unplanned Downtime in Aerospace Sheet Operations Hampered Production Second Highest Quarterly Heat Treat Plate and Auto Extrusion Shipments Strong Manufacturing Cost Performance First Nine Months 2014: Strong Volume Growth in Aerospace and Automotive Applications Offset Pricing Pressure on Heat Treat Plate Significant Year-Over-Year Improvement in Manufacturing Cost Performance
FOOTHILL RANCH, Calif., Oct.
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