Globe Specialty Profit Misses Estimates

(RTTNews) - Globe Specialty Metals Inc (GSM), a silicon metal and silicon-based alloy producer, on Monday reported fourth-quarter net earnings of $1.9 million or $0.03 per share compared with $6.2 million or $0.08 per share last year.

Excluding items, adjusted earnings for the quarter were $0.16 per share compared with $0.18 per share a year ago.

Revenues for the quarter were lower at $202 million compared with $205.4 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.18 per share on revenues of $209.7 million for the quarter. Analysts' estimates typically exclude special items.

Sales volume for the quarter increased 4% to 72,151 metric tons.

The company said it expects to complete its proposed business combination with Grupo FerroAtlantica during the fourth quarter of 2015.

On August 21, the company's board approved a quarterly dividend of $0.08 per share,