From Earlier: Mechel Reports the 9M 2011 Financial Results

Mechel OAO MTL today announced financial results for the 9M 2011. The net revenue in 3Q 2011 decreased by 7.6% and amounted to $3.2 billion compared to $3.5 billion in 2Q 2011. The operating income rose by 11.2% and amounted to $529.5 million or 16.49% of the net revenue, compared to the operating income of $476.3 million or 13.72% of the net revenue in 2Q 2011. In 3Q 2011, Mechel's consolidated net income attributable to shareholders of Mechel OAO decreased by 86.6% to $25.7 million compared to the consolidated net income attributable to shareholders of Mechel OAO of $191.9 million in 2Q 2011. The consolidated adjusted EBITDA in 3Q 2011 increased by 10.7% to $677.6 million, compared to $612.3 million in 2Q 2011. Depreciation, depletion and amortization in 3Q 2011 for the Company were $142.8 million, an increase of 3.0% compared to $138.6 million in 2Q 2011.