Allegheny Technologies Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported sales of $1,251.4 million, income before income tax provision of $49.9 million, net income attributable to the company of $31.7 million or $0.29 diluted net income per share as compared to sales of $1,037.6 million, income before income tax provision of $22.6 million, net income attributable to the company of $15.1 million or $0.15 diluted net income per share for the same period a year ago. Segment operating profit was $114.4 million compared to $88.0 million a year ago. Fourth quarter 2011 results were impacted by restructuring and Ladish acquisition expenses, which reduced earnings by $2.8 million, or $0.02 per share. Fourth quarter 2011 results were impacted by significantly lower demand and historically low base prices for the standard stainless products. Cash flow provided by operations was $189.3 million in the fourth quarter 2011. For the year 2011, the company reported sales of $5,183.0 million, income before income tax provision of $339.4 million, net income attributable to the company of $214.3 million or $1.97 diluted net income per share as compared to sales of $4,047.8 million, income before income tax provision of $125.7 million, net income attributable to the company of $70.7 million or $0.72 diluted net income per share for the same period a year ago. Segment operating profit was $612.0 million compared to $356.5 million a year ago. Cash flow provided by operating activities was $296.8 million compared to $27.1 million a year ago. Purchase of property, plant and equipment was $278.2 million compared to $219.1 million a year ago. Net debt was $1,128.7 million compared to $631.0 million a year ago. The company provided earnings guidance for the year 2012. For the year 2012, the company expects revenue growth of at least 10% in 2012, compared to 2011, and expect segment operating profit in the range of 13% to 14% of sales. The company expects 2012 capital expenditures to be approximately $485 million. Depreciation expense in 2012 is expected to be $194 million.