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Allegheny Technologies
Second Quarter 2008 Earnings
To Be Better Than Expected
Contact:
Dan L. Greenfield
(412) 394-3004
PITTSBURGH, Pennsylvania -- July 14, 2008 --
Allegheny Technologies Incorporated (NYSE: ATI) expects second quarter
2008 earnings to be in the range of $1.65 to $1.67 per share, including a
$0.11 per share one-time net tax benefit. ATI had previously said that it
expected second quarter earnings to be somewhat higher than the $1..40
per share achieved in the first quarter 2008.
"ATI is benefiting from the ongoing transformation of the
Company, and our product, market, and geographic diversification,"
said L. Patrick Hassey, Chairman, President and Chief Executive Officer.
"In addition, our enterprise risk management programs are reducing the
impact of volatile input costs on our earnings results. Our
transformation and diversification strategies are designed to position
ATI for growth and improved earnings, as well as providing stability of
earnings and cash flows through market cycles."
ATI will provide live Internet listening access to its conference call
with investors and analysts scheduled for July 23, 2008 at 1 p.m. ET. The
conference call will be conducted after the Company's planned release of
second quarter 2008 results. The conference call will be broadcast at www.alleghenytechnologies.com.
To access the broadcast, go to the home page and select "Conference
Call". In addition, the conference call will be broadcast through
CCBN.com. Replay of the conference call will be available on the
Allegheny Technologies website.
Building the World's Best Specialty Metals CompanyT
Allegheny Technologies Incorporated is one of the largest and most
diversified specialty metals producers in the world with revenues of $5.5
billion during 2007. ATI has approximately 9,700 full-time employees
world-wide who use innovative technologies to offer growing global
markets a wide range of specialty metals solutions. Our major markets are
aerospace and defense, chemical process industry/oil and gas, electrical
energy, medical, automotive, food equipment and appliance, machine and
cutting tools, and construction and mining. Our products include titanium
and titanium alloys, nickel-based alloys and superalloys, stainless and
specialty steels, grain-oriented electrical steel, zirconium, hafnium,
and niobium, tungsten materials, and forgings and castings. The Allegheny
Technologies website is www.alleghenytechnologies.com.
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