EX-99.1 2 r4884240b.txt FIRST QUARTER SELECTED INCOME AND CASH FLOW DATA Exhibit 99.1 RYERSON INC. AND SUBSIDIARY COMPANIES Selected Income and Cash Flow Data - Unaudited (Dollars in Millions, except Per Ton Data)
Fourth First Quarter Quarter --------------------------- 2009 2008 2008 ------------- ------------- ------------- NET SALES $804.7 $1,370.3 $1,072.9 Cost of materials sold 679.2 1,176.4 901.1 ------------- ------------- ------------- Gross profit 125.5 193.9 171.8 Warehousing, delivery, selling, general and administrative 124.1 151.0 136.7 Gain on the sale of assets (3.3) - - Other postretirement benefits curtailment gain (1.3) - - ------------- ------------- ------------- OPERATING PROFIT 6.0 42.9 35.1 Other revenue and expense, net 2.7 2.6 16.3 Interest and other expense on debt (18.2) (31.2) (27.2) ------------- ------------- ------------- INCOME (LOSS) BEFORE INCOME TAXES (9.5) 14.3 24.2 Provision (benefit) for income taxes (3.2) 5.1 7.3 ------------- ------------- ------------- NET INCOME (LOSS) (6.3) 9.2 16.9 Less: Net income (loss) attributable to noncontrolling interest (2.0) - (1.6) ------------- ------------- ------------- NET INCOME (LOSS) ATTRIBUTABLE TO RYERSON INC. $(4.3) $9.2 $18.5 ============= ============= ============= Supplemental Data : Tons shipped (000) 461 702 506 Shipping days 62 64 61 Average selling price/ton $1,745 $1,952 $2,120 Gross profit/ton $272 $276 $339 Operating profit/ton 13 61 69 Depreciation and amortization expense $9.3 $8.3 $10.8 Cash flow from operating activities $194.8 $(9.6) $285.9 Capital expenditures (7.4) (6.0) (9.8) EBITDA (See Schedule 1 for reconciliation) $20.0 $53.8 $63.8
Schedule 1 RYERSON INC. AND SUBSIDIARY COMPANIES Reconciliation of Net Income (Loss) Attributable to Ryerson Inc. to EBITDA (Dollars in millions)
Fourth First Quarter Quarter --------------------------- 2009 2008 2008 ------------- ------------- ------------- Net income (loss) attributable to Ryerson Inc. $(4.3) $9.2 $18.5 Interest and other expense on debt 18.2 31.2 27.2 Provision (benefit) for income taxes (3.2) 5.1 7.3 Depreciation and amortization expense 9.3 8.3 10.8 ------------- ------------- ------------- EBITDA $20.0 $53.8 $63.8 ============= ============= ============= EBITDA $20.0 $53.8 $63.8 LIFO expense (income) (105.1) 19.1 (84.6) ------------- ------------- ------------- EBITDA, excluding LIFO expense $(85.1) $72.9 $(20.8) ============= ============= =============
Note: To supplement its condensed consolidated financial statements presented on a GAAP basis, the company has provided earnings before interest, income taxes, depreciation and amortization (EBITDA) and EBITDA, excluding LIFO expense. EBITDA and EBITDA, excluding LIFO expense are non-GAAP financial measures and are not meant to be considered in isolation or as a substitute for net income attributable to Ryerson Inc. prepared in accordance with GAAP. Management believes that EBITDA and EBITDA, excluding LIFO expense are useful financial performance measures which are widely used by the investment community for evaluation purposes and provides the investors, analysts and other interested parties with additional information in analyzing the Company's operating results.