Allegheny Misses but Profits Increase

Zacks reports Allegheny Technologies Incorporated (NYSE:ATI) reported an increase in profit to $76.7 million or 70 cents per share.

The market news is quoted as saying,

Over the next 3 to 5 years, Allegheny expects to continue to benefit from its new alloys and products, diversified global growth markets and differentiated product mix. Demand is expected to be strong for its mill products and highly engineered forged and cast components from the aerospace market. Strong growth is also expected from the oil and gas/chemical process industry for its titanium-based alloys, nickel-based alloys and specialty alloys, and tungsten products.

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