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ALJ Announces 2nd Quarter Earnings

^{Published on 2010-05-14 11:55:11 - Market Wire}
 

ASHLAND, Ky.--([ BUSINESS WIRE ])--For the six months ended March 31, 2010, ALJ Regional Holdings, Inc. (Pink Sheets: ALJJ) posted net income of $725,759 as compared to a net loss of $130,684 for the six months ended March 31, 2009. ALJ is the parent company of KES Acquisition Company dba Kentucky Electric Steel, the owner and operator of a steel mini-mill near Ashland, Kentucky producing both merchant bar quality flats (MBQ Bar Flats), and special bar quality steel flats (SBQ Bar Flats).

According to John Scheel, ALJa™s Chief Executive Officer, aEach quarter of fiscal 2009 was extremely challenging. 2010 started out similarly with the first quarter holiday season down sharply from even the prior year quarter. However, during the second quarter shipments were up approximately 10% over the second quarter of fiscal 2009 and, even though prices were down about 2%, our operating income was up nearly 61% and our net income was up about twelve times as compared to the second quarter of 2009. As the fragile economic recovery progresses, we intend to continue to build on our recent results.a

Full financial reports are available at [ www.pinksheets.com ].

This press release contains forward-looking statements.Such statements include information regarding the fragile economic recovery and our ability to continue to build on our recent results.Forward-looking statements involve certain risks and uncertainties and actual results may differ materially from those discussed in any such statement.Among the factors that could cause actual results to differ materially are changes in ALJ's stock price, liquidity needs, market fluctuations or the occurrence of an "ownership change."Additional factors that could cause actual results to differ are discussed in ALJ's Annual Report for the fiscal year ended September 30, 2009 and in its other periodic reports issued through the Pink Sheets News Service and available at [ www.pinksheets.com ].All forward-looking statements in this release are made as of the date hereof and ALJ assumes no obligation to update any forward-looking statement.