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BREAKING:Ryerson Provides First Quarter 2017 Guidance and Announces Conference Call to be Held on May 4, 2017

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CHICAGO, April 6, 2017 /360WiseNews/ — Ryerson Holding Corporation (NYSE: RYI), a leading distributor and value-added processor of industrial metals, today provided guidance for its first quarter ending March 31, 2017. The Company anticipates higher revenue for the first quarter of 2017 compared to the fourth quarter of 2016 and the first quarter of 2016 with higher average selling prices and higher tons sold for the current quarter as compared to both periods. The Company expects first quarter 2017 net income attributable to Ryerson Holding Corporation in the range of $12 million to $15 million, which includes a range of $2 million of LIFO expense, net to $2 million of LIFO income, net.  Adjusted EBITDA, excluding LIFO is expected to be in the range of $53 million to $55 million for the first quarter of 2017. Ryerson reported first quarter 2016 net income attributable to Ryerson Holding Corporation of $14 million, which included LIFO income, net of $15 million. Adjusted EBITDA, excluding LIFO was $37 million in the first quarter of 2016. A reconciliation of Adjusted EBITDA, excluding LIFO to net income attributable to Ryerson Holding Corporation is included below in this news release.

Ryerson’s end markets as measured in shipments per day showed sequential quarterly growth in nearly all sectors. Ryerson experienced quarterly year over year growth in oil & gas, construction equipment, and food processing and agricultural equipment, while HVAC and metal fabrication and machine shop sectors experienced quarterly year over year demand declines.

Ryerson anticipates higher average selling prices in the first quarter of 2017, which can be attributed to supply side stabilization and global metal demand improvement. The rise in prices for metallurgical coal, Chinese iron ore, and steel scrap, combined with increased Chinese domestic steel consumption and positive U.S. industrial sentiment indicators have supported higher steel prices. Aluminum prices have steadily increased from September 2016 through the first quarter of 2017 on better than expected supply and demand fundamentals. Recent increases in chrome prices, driven by supply tightening, have positively impacted stainless steel prices in the first quarter of 2017, although nickel fundamentals have been volatile due to policy uncertainty in Indonesia and the Philippines, leading to some retracement of LME nickel prices in March 2017.

Current demand conditions appear favorable when viewed against the year ago period. U.S. industrial production grew 0.4% in February compared to the prior year, and has expanded for 3 straight months after 15 straight months of contraction. Manufacturing sentiment indicators, as measured by PMI, continue to show expansion for the U.S. and Chicago indices, with Chicago PMI reaching a 2 year high in March 2017. Further, year-to-date U.S. service center shipments were up 3.8% year over year in February 2017 according to the Metals Service Center Institute. Ryerson remains cautiously optimistic on demand for metal products in the first half of 2017 given these early performance indicators, as we see how positive sentiment ultimately converts to real demand for industrial metals.

Ryerson Holding Corporation’s First Quarter 2017 Conference Call Details

Ryerson also announced that it will host a conference call to discuss first quarter 2017 results on Thursday, May 4 at 10 a.m. Eastern Time. The live online broadcast will be available on the Company’s investor relations website, ir.ryerson.com. Ryerson will report earnings after the market closes on Wednesday, May 3.

 

DATE:           

Thursday, May 4, 2017

TIME:                    

10:00 a.m. ET / 9:00 a.m. CT

DIAL-IN:        

 877-201-0168 (Domestic) / 647-788-4901 (International)

CONFERENCE ID:         

2102975

 

An online replay of the call will be posted on the investor relations website, ir.ryerson.com, and remain available for 90 days.

Ryerson is a leading distributor and value-added processor of industrial metals, with operations in the United States, Canada, Mexico and China. Founded in 1842, Ryerson employs around 3,500 employees in approximately 100 locations. Visit Ryerson at www.ryerson.com.

Safe Harbor Provision

Certain statements made in this press release and other written or oral statements made by or on behalf of the Company constitute “forward-looking statements” within the meaning of the federal securities laws, including statements regarding our future performance, as well as management’s expectations, beliefs, intentions, plans, estimates or projections relating to the future. Such statements can be identified by the use of forward-looking terminology such as “believes,” “expects,” “may,” “estimates,” “will,” “should,” “plans” or “anticipates” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. The Company cautions that any such forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of various factors. Among the factors that significantly impact the metals distribution industry and our business are: the cyclicality of our business; the highly competitive, volatile, and fragmented market in which we operate; fluctuating metal prices; our substantial indebtedness and the covenants in instruments governing such indebtedness; the integration of acquired operations; regulatory and other operational risks associated with our operations located inside and outside of the United States; work stoppages; obligations under certain employee retirement benefit plans; the ownership of a majority of our equity securities by a single investor group; currency fluctuations; and consolidation in the metals producer industry. Forward-looking statements should, therefore, be considered in light of various factors, including those set forth above and those set forth under “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2016 and in our other filings with the Securities and Exchange Commission. Moreover, we caution against placing undue reliance on these statements, which speak only as of the date they were made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events or circumstances, new information or otherwise. Keep Reading

BREAKING:Offshore Support Vessel Market by Type (Anchor Handling Tug Supply, Platform Supply Vessel, Multipurpose Support Vessel, Standby & Rescue Vessel, Crew Vessel, Chase Vessel, Seismic Vessel), Depth (Shallow & Deepwater), and Region – Global Forecast to 2022

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LONDON, April 6, 2017 /360WiseNews/ — “The offshore support vessel market is projected to grow at a CAGR of 4.92%, from 2017 to 2022.”

The offshore support vessel market is projected to reach USD 20.15 billion by 2022, growing at a CAGR of 4.92%, from 2017 to 2022. Offshore support vessels are ships that are used for transporting supplies, equipment, and personnel to offshore oil & gas production facilities. Increasing focus on offshore field exploration and development, particularly in the deepwater sector, all around the globe is a major driver for the offshore support vessel market. The discovery of large oil reserves in the offshore regions of South-East Asia and Africa are other major drivers for this market.

Download the full report: https://www.reportbuyer.com/product/4814918/

“The North American market is expected to grow at the highest CAGR, from 2016 to 2021.”

North America is the largest market, by value, for offshore support vessels, followed by Asia-Pacific. The North American market is also projected to be the fastest growing market, during the forecast period, owing to continuing production and exploration activities, particularly in the U.S. and the Gulf of Mexico. As oil prices remain stable, the North American market will grow at the highest pace, as it will witness the quickest rise in exploration and production spending in response to any future recovery in oil prices, with its well-developed offshore industry and status as a low-risk investment region.

“AHTS Vessels: The largest segment for offshore support vessels” Keep Reading

BREAKING: Dairy Blends Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024

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NEW YORK, April 6, 2017 /360WiseNews/ —

Global Dairy Blends Market: Overview

Dairy blends have occupied a significant position due to its associated product benefits. By form the market has been categorized into powder and liquid, and by application the market has been segmented into infant formula, bakery, beverage, butter and cheese blends, pharmaceutical lactose, ice cream, butter and cheese blends and others which include yogurt, dairy feeds.

Read the full report: http://www.reportlinker.com/p04589987/Dairy-Blends-Market-Global-Industry-Analysis-Size-Share-Growth-Trends-and-Forecast.html

Previously milk was considered as one of the nutritious food as it contains macronutrients which includes (protein, fat, lactose) micronutrients and vitamins which includes minerals for consumption purposes. But there arises limitations of dairy products such as lactose intolerance, cholesterol, saturated fat, allergic symptoms which has thus resulted to inclination towards dairy blends products in recent years. In spite of remarkable increase in the production of milk it still remains out of reach from the vulnerable groups of weaker sections due to its rising price. Keep Reading

Heritage Financial Announces Earnings Release Date and Conference Call

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OLYMPIA, Wash., March 29, 2017 /360WiseNews/ — Heritage Financial Corporation  (“Company” or “Heritage”) (Nasdaq: HFWA) anticipates issuing its first quarter 2017 earnings release on Wednesday, April 26, 2017 before the market opens.  The Company has scheduled a telephone conference call to discuss the first quarter 2017 earnings on Wednesday, April 26, 2017 at 10:00 a.m. Pacific time (1:00 p.m. Eastern time).

To access the conference call, call the numbers listed below:

The conference call will be recorded and will be available approximately two hours after the live conference call for replay twenty-four hours a day ending May 10, 2017.  Questions regarding the conference call may be directed to Kaylene Lahn at 360-943-1500. Keep Reading

Essential Patent Data for the Top-100 IP Players Involved in the GaN Technology – Research and Markets

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DUBLIN, Mar. 15, 2017 /360WiseNews/ —

Research and Markets has announced the addition of the “GaN Technology Top-100 IP Profiles” report to their offering.

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The report provides essential patent data for IP players related to GaN technology. It identifies 100 major patent holders involved in GaN technology, and its provides in a single slide the IP profile of each main patent holder including: time evolution of patent publications, geographic map of patenting activity, technical segments, highly cited patents, main IP competitors and IP collaborators.

Moreover, the current diversification of GaN-related research activities is remarkable, ranging from advanced optical sources and single-electron devices to physical, chemical, and biological sensors, optical detectors, and energy converters. In this dynamic and large context, it is necessary to have a clear overview of main companies and research laboratories involved in this technology domain.

Time evolution of patent publications shows the number of patent publications of the company between 1995 and 2016. The number of patent families related to GaN technology is also indicated. Moreover, for each country or geographical zone (USA, Europe, Korea, Japan, Taiwan and China), a mapping of patenting activity is presented. A patent portfolio segmentation is provided to understand the technologies claimed by each main assignee. This segmentation shows the number of patent families by application (LED, LASER, Power, RF and Crystal growth), growth substrate (Sapphire, Silicon, Silicon Carbide) and  growth technique (MOCVD, MBE, HVPE, Ammonothermal and LPE). A selection of patents receiving a high number of citations is provided to identify quickly key technologies filed by each patent assignee. Main competitors have been selected for each IP player. Keep Reading

SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Seacor Holdings Inc. (CKH)

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NEW YORK, March 2, 2017 /360WiseNews/ — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Seacor Holdings Inc. (“Seacor” or the “Company”) (NYSE: CKH). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/ckh.

The investigation concerns whether Seacor and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On March 2, 2017, pre-market, Seacor filed to postpone its 2016 annual report, expressing that the it has not completed an assessment of its internal controls over financial reporting due to certain control deficiencies. Seacor said that the deficiencies related to impairment determinations and could represent material weaknesses.  Following this news, Seacor stock dropped as much as $4.84, or 6.76%, during intraday trading on March 2, 2017. Keep Reading

RA Holding Corp. Releases Quarterly Financial Statements

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NEW YORK, March 2, 2017 /360WiseNews/ — RA Holding Corp. (the “Company”) announced today that it has published its unaudited interim condensed financial statements as of and for the six month period ended December 31, 2016. The financial reports will be made available at http://dev.gardencitygroup.com/cases/arcapita/reports.php.

About RA Holding Corp.

RA Holding Corp. is the top-level holding company in the group created pursuant to the plan of reorganization of Arcapita Bank B.S.C.(c) and certain of its affiliates under chapter 11 of the United States Bankruptcy Code. Keep Reading

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