Oct. 28, 2010 - GrafTech International Ltd. reports that its third-quarter earnings were more than triple year-ago profits as its sales soared 55%.
The maker of graphite electrodes for steelmaking and other carbon-based products said its net income in the quarter climbed to $24.6 million, or 20 cents a share, from $6.9 million, or six cents a share, in the third quarter of 2009.
Sales at GrafTech rose to $255.2 million from $164.9 million.
In commenting on the results, GrafTech CEO Craig Shular said the numbers "came in stronger than anticipated as both segments (Industrial Materials and Engineered Solutions) delivered a solid quarter in a still recovering operating environment".
"We are well positioned to capitalize on continued strength in the global economic recovery and are excited about the prospects for growth of our company", Mr. Shular said.
