Globe Specialty Metals Swings To Profit, Tops Estimate

(RTTNews) - Globe Specialty Metals Inc (GSM) Wednesday reported first-quarter net earnings of $11.7 million or $0.16 per share compared with a loss of $6.9 million or $0.09 per share last year.

Excluding items, adjusted earnings for the quarter were $0.19 per share compared with earnings of $0.08 per share a year ago.

Revenues for the quarter were $206 million compared with $173 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.18 per share on revenues of $205.6 million for the quarter. Analysts' estimates typically exclude special items.

The company announced a quarterly dividend of $0.075 per share.