Shares of Metalico (MEA) Shares Climb After Positive Financial Results
By Daniel James Hayden IV
March 11, 2010 2:47 PM
March 11, 2010 2:47 PM
Shares of Metalico, Inc. (AMEX: MEA) were up nearly 4% in afternoon trading after the scrap metal recycler beat analyst expectations, narrowed its 4th quarter loss and reported strong revenue growth.
Metalico reported that its 4th quarter loss narrowed to $6 million, or 13 cents per share, compared to a loss of $67.5 million, or $1.86 per share, a year earlier.
Revenue was up 31% to $84.6 million.
According to a survey of analysts by Thomson Reuters, the average estimate for earnings was 5 cents per share, on $84 million in revenue.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
We're Loving
