{"id":21142,"date":"2012-02-17T13:21:00","date_gmt":"2012-02-17T13:21:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/horsehead-holding-zinc-production-at-the-smelter-was-at-its-highest-level-of-the-year\/21139\/"},"modified":"2012-02-17T13:21:00","modified_gmt":"2012-02-17T13:21:00","slug":"horsehead-holding-zinc-production-at-the-smelter-was-at-its-highest-level-of-the-year","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/horsehead-holding-zinc-production-at-the-smelter-was-at-its-highest-level-of-the-year\/21142\/","title":{"rendered":"Horsehead Holding &#8211; Zinc production at the smelter was at its highest level of the year"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><strong>Horsehead Holding Corp. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=ZINC\">Nasdaq<\/a>: ZINC)<\/strong> reported a consolidated net loss of $(12.7) million, or $(0.29) per diluted share, for the fourth quarter of 2011, compared to net income for the fourth quarter of 2010 of $14.6 million, or $0.33 per diluted share. For the full year of 2011, consolidated net income was $21.5 million, or $0.49 per diluted share compared to $24.8 million, or $0.57 per diluted share, in 2010.<\/p>\n<p>The net loss for the fourth quarter of 2011 was $(4.4) million, or $(0.10) per diluted share after excluding non-cash charges related to hedges and other\u00a0 non-cash charges related to asset valuation adjustments for the Corporation&#8217;s Monaca, Pennsylvania site and its Zochem, Inc., subsidiary. This compares to net income for the fourth quarter of 2010 of $7.6 million, or $0.17 per diluted share after excluding the effect of hedges and insurance recoveries net of associated expenses and taxes.<\/p>\n<p>Some of the major items affecting earnings before taxes for the fourth quarter of 2011 excluding these non-cash charges were:<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<ul>\n<li>Increased production at the Monaca, PA smelter combined with results from Zochem, which was acquired on November 1, 2011, resulted in a 33% increase in shipment of zinc products compared to the prior year fourth quarter and an 18% increase compared to the third quarter of 2011;<\/li>\n<li>Increased melting productivity at INMETCO compared with the fourth quarter of 2010 substantially offsetting the impact of a 15 day planned annual maintenance outage taken in October 2011.<\/li>\n<li>An 18% decline in the price of zinc and a 22% decline in the price of nickel compared to the fourth quarter of 2010;<\/li>\n<li>Transaction and other charges related to the Zochem acquisition of $1.0 million.<\/li>\n<\/ul>\n<p>&#8220;For the fourth quarter, zinc production at the smelter was at its highest level of the year, reversing the operational issues that affected production during the third quarter.\u00a0 Demand for our zinc products was very good for a fourth quarter, which is typically adversely affected by lower seasonal demand,&#8221; said Jim Hensler, President and Chief Executive Officer.\u00a0 &#8220;We were pleased to complete the acquisition of Zochem during the quarter, which added to our zinc production and shipments. INMETCO also contributed positively to the quarter even though an annual maintenance outage was taken in October.&#8221;<\/p>\n<p>&#8220;The average price of zinc and nickel declined substantially during the quarter, which had an unfavorable effect on earnings.\u00a0 We also saw EAF dust receipts decline during the quarter compared with the third quarter reflecting lower steel output,&#8221; Hensler said. &#8220;However, cash flow from operating activities, excluding hedge purchases, was favorable for the fourth quarter.&#8221;<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/sunpower-reports-q4-results-spwr\/21183\"><br \/>\nSunPower Reports Q4 Results (SPWR)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/general-mills-slashes-profit-forecast-gis\/21182\"><br \/>\nGeneral Mills Slashes Profit Forecast (GIS)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-slip\/21181\"><br \/>\nGold Prices Slip<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-post-weekly-gain\/21179\"><br \/>\nStocks Post Weekly Gain<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-on-a-mixed-note-20\/21177\"><br \/>\nStocks End on a Mixed Note<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-headed-for-a-mixed-finish-9\/21146\"><br \/>\nStocks Headed for a Mixed Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/horsehead-holding-zinc-production-at-the-smelter-was-at-its-highest-level-of-the-year\/21142\"><br \/>\nHorsehead Holding &#8211; Zinc production at the smelter was at its highest level of the year<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Horsehead Holding Corp. (Nasdaq: ZINC) reported a consolidated net loss of $(12.7) million, or $(0.29) per diluted share, for the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[6],"tags":[2446],"class_list":["post-21142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot-stocks-to-watch","tag-zinc"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/21142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=21142"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/21142\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=21142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=21142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=21142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}