Attached files
file | filename |
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8-K - GLOBE SPECIALTY METALS INC | form8k3q2010.htm |
EX-99.1 - GLOBE SPECIALTY METALS INC | pressrelease3q.htm |
3rd Quarter 2010 Earnings
Call
May
12, 2010
Disclaimer
This
presentation may contain statements that relate to future events and
expectations and, as such,
constitute "forward-looking statements" within the meaning of the federal securities laws. These
statements can be identified by the use of words such as “believes,” “expects,” “may,” “will,” “intends,”
“plans,” “estimates” or “anticipates,” or other comparable terminology, or by discussions of strategy,
plans or intentions. These statements are based on management’s current expectations and assumptions
about the industries in which Globe operates. Globe disclaims any intention or obligation to update
publicly any forward-looking statements, whether in response to new information, future events or
otherwise, except as required by applicable law. Forward-looking statements are not guarantees of future
performance and are subject to significant risks and uncertainties that may cause actual results or
achievements to be materially different from the future results or achievements expressed or implied by the
forward-looking statements. These risks and uncertainties include, but are not limited to, those risks and
uncertainties described in Globe’s most recent Annual Report on Form 10-K, including under “Special Note
Regarding Forward-Looking Statements” and “Risk Factors” and Globe’s quarterly reports on Form 10-Q.
These reports can be accessed through the “Investors” section of Globe’s website at www.glbsm.com.
constitute "forward-looking statements" within the meaning of the federal securities laws. These
statements can be identified by the use of words such as “believes,” “expects,” “may,” “will,” “intends,”
“plans,” “estimates” or “anticipates,” or other comparable terminology, or by discussions of strategy,
plans or intentions. These statements are based on management’s current expectations and assumptions
about the industries in which Globe operates. Globe disclaims any intention or obligation to update
publicly any forward-looking statements, whether in response to new information, future events or
otherwise, except as required by applicable law. Forward-looking statements are not guarantees of future
performance and are subject to significant risks and uncertainties that may cause actual results or
achievements to be materially different from the future results or achievements expressed or implied by the
forward-looking statements. These risks and uncertainties include, but are not limited to, those risks and
uncertainties described in Globe’s most recent Annual Report on Form 10-K, including under “Special Note
Regarding Forward-Looking Statements” and “Risk Factors” and Globe’s quarterly reports on Form 10-Q.
These reports can be accessed through the “Investors” section of Globe’s website at www.glbsm.com.
All
references to “MT” or “tons” mean metric tons, each of which equals 2,204.6
pounds.
2
Q3
2010 Normalized Financial Results
3
(1) Selma and
Niagara Falls plant start-up expenses of $3.0 million.
(2) Selma and
Niagara Falls plant start-up expenses of $3.0 million and Core Metals
acquisition expenses of $0.5 million.
(3) Adjustments net of
tax.
(4) Selma and
Niagara Falls plant start-up expenses of $3.9 million and furnace impairment
charges of $0.7 million at our electrode plant in China.
(5) Gain on
sale of Brazilian plant of $23.4 million, net of plant start-up expenses of $3.9
million and impairment charges of $0.7 million.
(6) Adjustments
net of tax.
Q3
2010 Sequential Sales Bridge
Q3
2010 Sequential Normalized EBITDA Bridge
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Pro
Forma Financials
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(1) Adjusted
for 49% of sales and expenses at Alloy, WV plant and for Brazil results. Alloy,
WV plants adjustments reflect the 49% interest owned by Dow Corning
but consolidated for accounting purposes. Brazil eliminated from results to show comparable results between the two quarters.
but consolidated for accounting purposes. Brazil eliminated from results to show comparable results between the two quarters.
EBITDA
& EPS Reconciliation
7