Pittsburgh, Pennsylvania-based TMS International Corp., the parent company of Tube City IMS and a global industrial service provider to steel mills, announced Thursday its earnings for its Q4 and fiscal year ended December 31, 2012.
Revenue after raw materials costs, the company's measurement of sales performance, was $148.3 million, an increase of 7.5 percent, compared to $137.9 million in Q4 2011.
Adjusted EBITDA for Q4 2012 was $35 million compared to $31.7 million of adjusted EBITDA in Q4 2011. Income before income taxes was $10.1 million compared to $8 million in Q4 2011, for an increase of 27 percent.
Revenue after raw materials costs for the year ended December 31, 2012, increased 10.4 percent to $606.7 million from $549.5 million for the comparable 2011 period. Adjusted EBITDA for 2012 increased 8.4 percent to $145.3 million from $134.0 million for 2011. Adjusted EBITDA margin for 2012 was 24 percent compared to 24.4 percent for 2011.
The company expects to achieve full year 2013 Adjusted EBITDA in a range of $152 million to $160 million, representing a year-over-year growth rate of 5 percent to 10 percent.