Exhibit 99.1

Allegheny Technologies Announces Fourth Quarter and Full Year 2011 Results

PITTSBURGH--(BUSINESS WIRE)--January 25, 2012--Allegheny Technologies Incorporated (NYSE: ATI):

Fourth Quarter 2011 Results

  • Sales increased to $1.25 billion, nearly 21% higher than fourth quarter 2010
  • Segment operating profit of $114.4 million, or 9.1% of sales, 30% higher than fourth quarter 2010
  • Net income attributable to ATI before special charges was $34.5 million, or $0.31 per share, 107% higher than fourth quarter 2010
  • Net income attributable to ATI was $31.7 million, or $0.29 per share, including $2.8 million, or $0.02 per share, of special charges
  • Gross cost reductions of $36.0 million

Full Year 2011 Results

  • Sales increased to $5.18 billion, 28% higher than 2010
  • Segment operating profit of $612.0 million, or 11.8% of sales, improved 72% compared to 2010
  • Net income attributable to ATI before special charges was $243.9 million, or $2.23 per share, 210% higher than 2010
  • Net income attributable to ATI was $214.3 million, or $1.97 per share, including Ladish acquisition expenses of $22.1 million, or $0.19 per share
  • Gross cost reductions of $123.5 million
  • Cash on hand at year end was $380.6 million
  • Net debt to total capitalization was 31.3%
  • Total debt to total capitalization was 37.8%

Allegheny Technologies Incorporated (NYSE: ATI) reported net income for the fourth quarter 2011 of $31.7 million, or $0.29 per share, on sales of $1.25 billion. Fourth quarter 2011 results were impacted by restructuring and Ladish acquisition expenses, which reduced earnings by $2.8 million, or $0.02 per share.

In the fourth quarter 2010, ATI reported net income of $15.1 million, or $0.15 per share, on sales of $1.04 billion.

For the full year 2011, net income was $214.3 million, or $1.97 per share, on sales of $5.18 billion. Results for 2011 included $29.6 million of charges, net of tax, for Ladish acquisition expenses, accelerated recognition of equity compensation due to executive retirements, and restructuring and start-up expenses, which reduced earnings by $0.26 per share.

For the full year 2010, net income was $70.7 million, or $0.72 per share, on sales of $4.05 billion. Results for 2010 included non-recurring tax charges of $9.2 million, or $0.10 per share, primarily due to the effects of the Patient Protection and Affordable Care Act and the Small Business Jobs and Credit Act.

“Our 2011 results continued to demonstrate the benefits of ATI’s recent strategic investments and our focus on key global markets and high-value differentiated products,” said Rich Harshman, Chairman, President and Chief Executive Officer. “Sales for 2011 were 28% higher than in 2010. Segment operating profit, excluding inventory fair value adjustments associated with the Ladish acquisition, was 12.3% of ATI sales, or $639.3 million. This performance represents a 79% increase over 2010 segment operating profit. Earnings per share before special charges was $2.23, 210% higher than 2010.”


The following information was filed by Allegheny Technologies Inc (ATI) on Wednesday, January 25, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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