Real Industry Satisfies Wall St.

Real Industry Inc. matched Wall Street expectations on earnings but fell short on revenue in the fiscal fourth quarter. The Sherman Oaks investment holding company reported on Monday a net loss of $3.9 million (-16 cents a share) for the quarter ending Dec. 31, compared with net income of $5.1 million (39 cents) in the same period a year earlier. Revenue increased 14,900 percent to $300 million. Analysts on average expected net income of -16 cents on revenue of $323 million, according to Thomson Financial Network. Real Industry, formerly known as Signature Group Holdings, owns an aluminum recycling business, Real Alloy, in Cleveland. The purchase of Real Alloy closed in the first quarter of last year. “In the 10 months since the closing of the acquisition, our strong focus on cash flow, productivity and working capital management enabled us to reduce our total debt by over $50 million while maintaining liquidity in excess of $100 million at year end,” Real Industry Chief Executive Craig Bouchard said in a prepared statement. Shares closed up 36 cents, or 5 percent, to $7.50 on the Nasdaq.