Ampco-Pittsburgh Announces Strong Operating Results for the Third Quarter.PITTSBURGH -- Ampco-Pittsburgh Corporation (NYSE NYSE See: New York Stock Exchange :AP) reported a significant increase in earnings for the third quarter 2007. The results reflect the continuing high level of demand for rolling mill rolling mill: see steel. rolls manufactured by the Forged and Cast Rolls group from the steel and aluminum industries throughout the world. The backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of orders is at record levels which is expected to generate strong earnings for the balance of the year and in 2008. In addition, operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the Air and Liquid Processing segment showed improvement in the quarter. Sales for the three and nine months ended September 30, 2007 were $87,160,000 and $263,640,000, respectively, against sales of $79,069,000 and $223,413,000 for the three and nine months ended September 30, 2006. Net income for the three months ended September 30, 2007 and 2006 was $9,399,000 or $0.92 per share and $6,644,000 or $0.68 per share, respectively, and for the nine months ended September 30, 2007 and 2006 was $29,041,000 or $2.90 per share and $18,773,000 or $1.91 per share. Income from operations approximated $14,206,000 and $43,475,000 for the three and nine months ended September 30, 2007, respectively, against $9,808,000 and $26,670,000 for the comparable prior year periods. The matters discussed herein may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties that could cause actual results to differ materially from expectations. Certain of these risks are set forth in the Corporation's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2006, as well as the Corporation's other reports filed with the Securities and Exchange Commission. [TABLE OMITTED] |
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