ak steel holding corp (AKS*) Snapshot

AK Steel Holding Corporation announced that it expects shipments of approximately 1,340,000 to 1,360,000 tons in the second quarter of 2013 compared to shipments of 1,289,800 tons in the first quarter of 2013, an increase of approximately 4% to 5%. For the second quarter of 2013, the company said it expects increased shipments to the automotive market and carbon spot market compared to the previous quarter.

AK Steel Holding Corporation at the annual meeting ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2013.

AK Steel Holding Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net loss of $9.9 million, or $0.07 per basic and diluted share of common stock compared to a net loss of $11.8 million, or $0.11 per basic and diluted share, for the first quarter of 2012. Net sales were $1,369.8 million on shipments of 1,289,800 tons, compared to net sales of $1,508.7 million on shipments of 1,325,900 tons for the year-ago first quarter. The decreased shipments in the first quarter of 2013 compared to both prior periods were primarily due to lower shipments to the carbon spot market, partially offset by increased shipments to the automotive market. The company reported adjusted EBITDA of $66.8 million, or $52 per ton, for the first quarter of 2013 compared to adjusted EBITDA of $48.9 million, or $37 per ton, for the year-ago first quarter. Operating profit was $33.2 million compared to $4.1 million a year ago. Income before income taxes was $4.0 million compared to loss before income taxes of $11.2 million a year ago. Net cash flows used in operating activities were $7.0 million compared to $150.0 million a year ago. Capital investments were $15.5 million compared to $10.5 million a year ago. EBITDA was $87.0 million compared to $60.1 million a year ago.