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Unaudited Quarterly Financial Information (Tables)
12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Quarterly Financial Information

The following tables present unaudited quarterly financial information, which has been prepared on a basis consistent with that of the audited consolidated financial statements and includes all necessary material adjustments, consisting of normal recurring accruals and adjustments, to present fairly the unaudited quarterly financial information. The quarterly financial results of operations for these periods are not necessarily indicative of future financial results of operations. The quarterly per share calculations are based on the weighted average number of shares for each period; therefore, the sum of the quarters may not necessarily be equal to the full year per share amounts.

 

 

Unaudited 2015 Information for the Three Months Ended

 

(In millions, except per share amounts)

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

Revenues

$

137.8

 

 

$

368.7

 

 

$

338.6

 

 

$

300.5

 

Cost of sales

 

133.0

 

 

 

347.4

 

 

 

313.2

 

 

 

277.1

 

Gross profit

 

4.8

 

 

 

21.3

 

 

 

25.4

 

 

 

23.4

 

Operating costs

 

7.6

 

 

 

18.5

 

 

 

18.0

 

 

 

20.6

 

Operating profit (loss)

 

(2.8

)

 

 

2.8

 

 

 

7.4

 

 

 

2.8

 

Net earnings (loss) attributable to Real Industry, Inc.

 

6.7

 

 

 

(10.9

)

 

 

1.2

 

 

 

(3.9

)

Earnings per share - basic

$

0.30

 

 

$

(0.42

)

 

$

0.02

 

 

$

(0.16

)

Earnings per share - diluted

 

0.30

 

 

 

(0.42

)

 

 

0.02

 

 

 

(0.16

)

 

During the three months ended March 31, 2015, we sold NABCO (January 9, 2015) and acquired Real Alloy (February 27, 2015). NABCO is presented in discontinued operations for all periods presented. We recognized a $39.7 million pretax gain on the sale of NABCO. In the three months ended June 30, 2015, we revised the estimated exposure to SGGH’s repurchase reserve, within discontinued operations, and recognized a $4.3 million recovery of the repurchase reserve.

 

 

Unaudited 2014 Information for the Three Months Ended

 

(In millions, except per share amounts)

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

Revenues

$

0.1

 

 

$

 

 

$

 

 

$

2.0

 

Cost of sales

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

0.1

 

 

 

 

 

 

 

 

 

2.0

 

Operating costs

 

2.6

 

 

 

0.2

 

 

 

3.8

 

 

 

3.9

 

Operating profit (loss)

 

(2.5

)

 

 

(0.2

)

 

 

(3.8

)

 

 

(1.9

)

Net earnings (loss) attributable to Real Industry, Inc.

 

0.1

 

 

 

(0.5

)

 

 

0.8

 

 

 

5.1

 

Earnings per share - basic

$

0.01

 

 

$

(0.04

)

 

$

0.06

 

 

$

0.41

 

Earnings per share - diluted

 

0.01

 

 

 

(0.04

)

 

 

0.06

 

 

 

0.41