AM Castle & Co. (CAS:NYSE)

A. M. Castle & Co. has filed a universal shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission (SEC). If and when declared effective by the SEC, the shelf registration statement will allow the Company to sell securities in one or more separate offerings in amounts and at prices and terms to be determined at the time of sale. The registration statement is intended to provide the Company with the flexibility to offer and sell from time to time in the future up to $100 million of equity, debt or other types of securities described in the registration statement, or any combination of such securities. If securities are issued, the Company may use the proceeds for general corporate purposes, including acquisitions, capital expenditures, working capital, and repayment of debt. However, the Company currently does not have any specific plans to offer securities under the registration statement.

AM Castle & Co. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net sales of $183,960,000, operating loss of $8,645,000, loss before income taxes and equity in earnings of joint venture of $10,184,000, loss before equity in earnings of joint venture of $6,577,000, net loss of $6,337,000 or $0.28 diluted per share and LBITDA of $3,256,000 compared with net sales of $388,898,000, operating income of $16,632,000, income before income taxes and equity in earnings of joint venture of $8,131,000, income before equity in earnings of joint venture of $8,131,000, net income of $11,478,000 or $0.50 diluted per share and EBITDA of $25,553,000 for the same period last year. For the nine months, the company reported net sales of $631,307,000, operating loss of $14,496,000, loss before income taxes and equity in earnings of joint venture of $19,293,000, loss before equity in earnings of joint venture of $11,459,000, net loss of $11,378,000 or $0.50 diluted per share and EBITDA of $1,692,000 compared with net sales of $1,179,492,000, operating income of $56,542,000, income before income taxes and equity in earnings of joint venture of $49,502,000, income before equity in earnings of joint venture of $28,483,000, net income of $36,543,000 or $1.62 diluted per share and EBITDA of $82,054,000 over the same period last year.

AM Castle & Co. reported cash flow results for the third quarter and nine months of 2009. For the quarter, the company's cash flow from operations was $14.6 million. For the period, the company's total capital expenditures were $6.2 million compared to $18.8 million for the same period a year ago. The company generated cash flow from operations of $31.1 million compared to a cash use of $15.6 million in the 2008 period. For the year 2009, the company expects capital expenditure target of $7 million is much lower than the amount spent the last several years.