WASHINGTON (dpa-AFX) - Allegheny Technologies Inc. (ATI) reported net income for the first quarter of $56.2 million or $0.50 per share, lower than last year's $56.3 million or $0.54 per share.
Quarterly sales advanced to $1.35 billion from $1.23 billion in the prior year.
Analysts polled by Thomson Reuters expected the company to earn $0.49 per share on revenues of $1.37 billion for the quarter. Analysts' estimates typically exclude special items.
The company noted that results for the first quarter of 2012 were impacted by higher retirement benefit expenses of $7.3 million, net of tax, or $0.06 per share.
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