June 2008 -- Growing global markets powered profitability at Allegheny Technologies Inc. (ATI), a diversified
producer of specialty metals, in 2007. The Pittsburgh-based firm reported net income for the
full year 2007 of $747.1 million, or $7.26 per share, on sales of $5.45 billion. Net income for
the full year 2006 was $574.1 million, or $5.61 per share, on sales of $4.94 billion.
"In 2007, we strengthened our position in key global growth markets, launched new production
facilities, and solidified our balance sheet while achieving record sales and profits," said L.
Patrick Hassey, chairman, president and CEO, in a press statement. "Direct international sales
in 2007 were nearly $1.5 billion, a record, or approximately 27% of sales."
Hassey added, "Compared to 2006, shipments of our high performance metals segment titanium
alloys, nickel-based alloys and specialty alloys, and exotic alloys grew 12%, 4%, and 20%,
respectively. These products benefited from strong demand from global markets and our ongoing
strategic capital projects. In our flat-rolled products segment, shipments of titanium and ATI-
produced Uniti titanium products grew nearly 25% to approximately 10.4 million pounds, and
shipments of our grain-oriented silicon electrical steel grew 5%, both compared to 2006."
Capital expenditures totaled $447.4 million for the full year 2007. Return on capital employed
was 31%.
