Share News - (NASDAQ:HAYN) Reports Q4 Loss, Shares Plunges

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Haynes International, Inc. (NASDAQ:HAYN) fell 5.73% to $26.00 after HAYN said it slipped to a loss in the fourth quarter from a profit in the year-ago on a steep decline in revenue.

Haynes International reported a fourth quarter net loss of $3.0 million, compared to a net income of $16.3 million in the year-ago period. On a per share basis, net loss was $0.25, compared to a profit of $1.35 in the prior-year period.

Analysts polled by Thomson Reuters expected a fourth-quarter net loss of $0.12 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net revenues for the quarter fell sharply to $85.6 million from $160.8 million in the year-earlier quarter due to rapid increases in the cost of nickel, energy and other raw materials. Analysts expected fourth-quarter revenue of $93.08 million.

For the full-year, Haynes International posted a net loss of $52.3 million or $4.36 per share, compared to net income of $62.8 million or $5.22 per share in the year-ago period. Excluding non-cash goodwill impairment charge of $43.73 million, net loss was $9.5 million or $0.78 per share for the year. Analysts expected a net loss of $0.64 for the year.