Exhibit 99.1

Allegheny Technologies Announces Fourth Quarter and Full Year 2012 Results

Fourth Quarter 2012 Results

  • Sales were $1.10 billion
  • Segment operating profit of $95.3 million, or 8.7% of sales
  • Net income attributable to ATI before a special charge was $19.3 million, or $0.18 per share
  • Net income attributable to ATI was $10.5 million, or $0.10 per share, including the special charge of $8.8 million, or $0.08 per share
  • Gross cost reductions were $26.8 million
  • Cash on hand increased $23.6 million during the quarter to $304.6 million

Full Year 2012 Results

  • Sales were $5.03 billion
  • Segment operating profit of $537.9 million, or 10.7% of sales
  • Net income attributable to ATI before a special charge was $167.2 million, or $1.51 per share
  • Net income attributable to ATI including the special charge was $158.4 million, or $1.43 per share
  • Gross cost reductions were $113.8 million
  • Net debt to total capitalization was 32.2%
  • Total debt to total capitalization decreased to 37.4%

PITTSBURGH--(BUSINESS WIRE)--January 23, 2013--Allegheny Technologies Incorporated (NYSE: ATI) reported fourth quarter 2012 sales of $1.10 billion and net income of $10.5 million, or $0.10 per share, which includes a special charge of $8.8 million, or $0.08 per share. Fourth quarter 2012 net income excluding the special charge was $19.3 million, or $0.18 per share. The fourth quarter 2012 special charge reflects asset write-downs in the Engineered Products segment associated with consolidating casting facilities.

In the fourth quarter 2011, ATI reported net income 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.

For the full year 2012, net income was $158.4 million, or $1.43 per share, on sales of $5.03 billion. Net income for the full year 2012 excluding the fourth quarter special charge was $167.2 million, or $1.51 per share.

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.

“The fourth quarter 2012 was negatively impacted by headwinds resulting from uncertain global economic conditions,” said Rich Harshman, Chairman, President and Chief Executive Officer. “We saw continued conservative inventory management throughout the supply chains of most of our major end markets. These actions appear to have been driven by near-term concerns about the U.S. economy related to resolution of U.S. fiscal policy issues and challenging economic conditions in Europe, Japan, and to a lesser extent China. While these headwinds are creating challenging short-term conditions, we remain optimistic about the long-term growth opportunities in many of our global markets.”


The following information was filed by Allegheny Technologies Inc (ATI) on Wednesday, January 23, 2013 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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