01—Abstract
Summary
Summary of the 10-K filed February 27, 2012. Cited figures are marked; the original filing is the authoritative source.
Allegheny Technologies Incorporated (ATI) presents its 2011 annual report, highlighting a year of significant operational and strategic developments.
The company, a producer of specialty metals and alloys, navigated a complex economic environment by focusing on its core businesses and pursuing growth opportunities. Investors should note ATI's commitment to its advanced materials segments, which are crucial for its long-term value proposition. The report underscores the company's financial performance and its efforts to strengthen its market position amidst evolving industry dynamics.
Key financial indicators and strategic initiatives are detailed within the filing. Investors will find information on the company's revenue drivers, cost management strategies, and capital allocation plans.
ATI's forward-looking statements and risk factor disclosures provide crucial context for understanding the company's outlook and the challenges it anticipates. Overall, the 2011 10-K provides a comprehensive overview of ATI's business, financial health, and strategic direction for the period.
02—Key points
Key Highlights
- ATI filed its 2011 Form 10-K on February 27, 2012, reporting on its fiscal year ended December 31, 2011.
- The company is registered in Delaware and is traded on the New York Stock Exchange under the ticker ATI.
- ATI is classified as a large accelerated filer, indicating its significant market capitalization and reporting history.
- The report covers various business segments, including discussions on operations, risk factors, properties, and legal proceedings.
- Financial data and Management's Discussion and Analysis of Financial Condition and Results of Operations are key components, providing insights into performance.
- The filing includes detailed financial statements and controls and procedures for the fiscal year.
- ATI had approximately 106.7 million shares of Common Stock outstanding as of February 13, 2012.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2011, ATI Inc kept $0.04.
- Revenue$4.81B100.0%
- Cost of revenue−$4.08B84.7%
- Gross profit$736.8M15.3%
- Operating costs−$323.0M6.7%
- Operating income$413.8M8.6%
- Interest, other & tax−$199.5M4.1%
- Net income$214.3M4.5%
Where FY2011 revenue went
$4.81B- Cost of revenue: $4.08B, 85% of revenue
- Net income: $214.3M, 4.5% of revenue
- R&D: $17.0M, 0.4% of revenue
- SG&A: $323.0M, 6.7% of revenue
- Interest, other & tax: $199.5M, 4.1% of revenue
Kept 4.5% as net incomeNet income $214.3M · 4.5%R&D $17.0M · 0.4%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2011filed February 27, 2012Financial Statements
FY2011 against FY2010
| Line item | FY2011FY2010 | Change |
|---|---|---|
| Revenue | $4.81B$4.05B | +18.9% |
| Cost of Revenue | $4.08B$3.56B | +14.6% |
| Gross Profit | $736.80M$490.30M | +50.3% |
| R&D Expenses | $17.00M$16.50M | +3.0% |
| SG&A Expenses | $323.00M$304.90M | +5.9% |
| Operating Income | $413.80M$185.40M | +123.2% |
| Interest Expense | $93.70M$63.80M | +46.9% |
| Net Income | $214.30M$70.70M | +203.1% |
| EPS (Basic) | $2.09$0.73 | +186.3% |
| EPS (Diluted) | $1.97$0.72 | +173.6% |
| Shares Outstanding (Basic) | 102.50M97.40M | +5.2% |
| Shares Outstanding (Diluted) | 113.90M98.70M | +15.4% |
05—Questions
Frequently Asked Questions
What is the primary business of Allegheny Technologies Incorporated (ATI)?
Allegheny Technologies Incorporated (ATI) is a producer of a wide range of specialty metals and alloys. Its business encompasses the development, manufacturing, and marketing of these materials used in various demanding applications across multiple industries.
What is the significance of ATI being a 'large accelerated filer'?
Being a 'large accelerated filer' means ATI meets specific SEC criteria related to its public float (market value of shares held by non-affiliates) and filing history. This classification indicates that ATI is a substantial public company subject to rigorous reporting requirements, which generally provides investors with more detailed and timely financial information.
Where can investors find detailed financial performance information for 2011?
Detailed financial performance information for 2011 can be found in Part II, Item 6 (Selected Financial Data) and Item 7 (Management’s Discussion and Analysis of Financial Condition and Results of Operations) of the 10-K filing. Item 8, 'Financial Statements and Supplementary Data,' provides the audited financial statements.
What types of risks does ATI face, as disclosed in the filing?
The filing, particularly in Item 1A (Risk Factors), would typically disclose various risks ATI faces. These could include market and economic conditions, competition, operational challenges, supply chain disruptions, regulatory changes, and potential impacts from the industries it serves, such as aerospace, defense, and energy.
06—Continue