Haynes International Inc Issues Q1 2012 Net Income Guidance Below Analysts' Estimates; Issues Q2, FY 2012 Net Income Guidance In Line With Analysts' Estimates; Declares Dividend

Haynes International Inc announced that for the reduction in volume as compared to the fourth quarter of fiscal 2011, and the corresponding reduction in absorption of fixed costs and gross margin dollars, is expected to unfavorably impact net income in the first quarter of 2012 by 10% to 20% as compared to the fourth quarter of 2011. The Company also anticipates that net income in the second quarter of 2012 will improve from the first quarter to equal or possibly slightly exceed the net income of the fourth quarter of 2011. For fiscal 2012, management expects net income to exceed the net income of fiscal 2011. The Company reported net income of $11.26 million in the fourth quarter of 2011 and net income of $30 million in fiscal 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report net income of $9.20 million in the first quarter of 2012; net income of $12.20 million in the second quarter of 2012; net income of $49.73 million for fiscal 2012. The Company also announced that the Board of Directors declared a regular quarterly cash dividend of $0.22 per outstanding share of the Company's common stock. This quarterly dividend amount of $0.22 per share represents a 10% increase from previous quarterly per share dividend amounts. The dividend is payable December 15, 2011 to stockholders of record at the close of business on December 1, 2011.