AK Steel Holding Corp., Board Meeting, Oct 22, 2009

AK Steel Holding Corp. announced that its board of directors has declared a quarterly cash dividend of $0.05 per share of common stock, payable on December 10, 2009 to shareholders of record on November 13, 2009.

AK Steel Holding Corp. reported unaudited financial results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net sales of $1,041.1 million, income before income taxes of $9.2 million, net income of $5.7 million, net income attributable to the company of $6.20 million or $0.06 per diluted share against net sales of $2,157.6 million, income before income taxes of $298.9 million, net income of $188.5 million, net income attributable to the company of $188.3 million or $1.67 per diluted share a year ago. Operating profit was $15.3 million against $309.6 million for the same period of last year. For the nine months, the company reported net sales of $2,157.6 million, income before loss taxes of $176.9 million, net loss of $115.9 million, net loss attributable to the company of $114.4 million or $1.05 loss per diluted share against net sales of $6,185.6 million, income before income taxes of $692.4 million, net income of $435 million, net income attributable to the company of $434.6 million or $3.85 per diluted share a year ago. Net cash flow to operating activities was $87.4 million as compared to $139.1 million a year ago. Operating loss was $157.1 million against profit of $717.2 million for the same period of last year.

AK Steel Holding Corp. provided earnings guidance for the fourth quarter of 2009. The company expects to generate an operating profit $30 to $35 per ton.

AK Steel Holding Corp., Q3 2009 Earnings Call, Oct 27 2009