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Some up, some down: following is a roundup of the latest mill and service center second-quarter conference calls with analysts and investors.

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By the Staff of Metal Center News

Aleris

Corus Acquisition Boosts Aleris Results

Aleris International Inc., Beachwood, Ohio, reported a 60 percent increase in second-quarter 2007 revenues, driven primarily by the August 2006 acquisition of the downstream aluminum business of Corus Aluminum. Aleris's revenues hit $1.6 billion for the quarter, up from $1.0 billion in second-quarter 2006.

During the first six months of 2007, Aleris expanded its inventory hedging program, which is designed to protect the value of the company's underlying inventory from significant changes in the LME. Its EBITDA for the second quarter totaled $104.6 million, compared with $102.7 million for the comparable period last year. Adjusting for its inventory hedging program, the company's EBITDA was $128.2 million vs. $118.7 million for the second quarter 2006.

The company reported continued progress in its strategic growth initiatives, completing the acquisition of EKCO Products on May 3. Its proposed purchase of Wabash Alloys was announced on July 5.

For the first half, Aleris revenues totaled $3.2 billion compared with $1.9 billion last year, while its EBITDA increased 23 percent to $222.3 million.

Results were significantly affected by the Corus Aluminum acquisition and ongoing productivity initiatives, company officials said, partially offset by lower sales volumes in some North American businesses, as well as $23.7 million of losses on inventory hedges. The company expects to realize inventory hedge gains in the third quarter.

"We continue to be pleased with the growth and development of Aleris during the second quarter of 2007," said Steven J. Demetriou, chairman and CEO. "Though we were adversely impacted by destocking in our distribution segment and challenging housing and transportation segments in North America, we continue to make progress on the integration of the Corus Aluminum acquisition in Europe and cost reduction improvements throughout our global operations. We now expect to achieve $65 million in synergies related to Corus, an increase from our previous estimate of $45 million."

WCI Steel

Hurt By 'Operational Difficulties'

WCI Steel Inc., Warren, Ohio, reported a net loss of $12.5 million for the second quarter, and a net loss of $16.8 million for the first half, due...

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