Allegheny Technologies Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company's sales were $738.9 million compared to $1,047.5 million a year ago. Compared to the third quarter 2015, sales decreased 4% in the High Performance Materials & Components segment, primarily due to lower sales of titanium and titanium alloys. Loss before interest, other income and income taxes was $329.2 million compared to income before interest, other income and income taxes of $51.5 million a year ago. Loss from continuing operations before income taxes was $359.1 million compared to income from continuing operations before income taxes of $26.8 million a year ago. Loss from continuing operations was $223.3 million compared to income from continuing operations of $23.1 million a year ago. Net loss was $223.3 million compared to net income of $25.3 million a year ago. Net loss attributable to ATI was $226.9 million compared to net income attributable to ATI of $22.1 million a year ago. Diluted net loss per common share from continuing operations attributable to ATI per common share was $2.12 compared to income per share of $0.18 a year ago. Diluted net loss attributable to ATI per common share was $2.12 compared to income per share of $0.20 a year ago.

For the year, the company's sales were $3,719.6 million compared to $4,223.4 million a year ago. Compared to the full year 2014, sales decreased 1% in the High Performance Materials & Components segment and 22% in the Flat Rolled Products segment. Loss before interest, other income and income taxes was $369.4 million compared to income before interest, other income and income taxes of $106.1 million a year ago. Loss from continuing operations before income taxes was $478.0 million compared to income from continuing operations before income taxes of $1.5 million a year ago. Loss from continuing operations was $365.9 million compared to income from continuing operations of $10.2 million a year ago. Net loss was $365.9 million compared to net income of $9.6 million a year ago. Net loss attributable to ATI was $377.9 million compared to net income attributable to ATI of $2.6 million a year ago. Diluted net loss per common share from continuing operations attributable to ATI per common share was $3.53 compared to income per share of $0.02 a year ago. Diluted net loss attributable to ATI per common share was $3.53 compared to income per share of $0.03 a year ago. Cash provided by operating activities was $131.4 million compared to $55.9 million a year ago. Purchases of property, plant and equipment was $144.5 million compared to $225.7 million a year ago.

The company also announced impairment of goodwill was $126.6 million for the fourth quarter of 2015.

The company currently expect 2016 capital expenditures to be approximately $240 million, including nickel alloy powder expansion ($45 million), final payments on the HRPF ($70 million), completion of the expansion of titanium investment castings capacity ($10 million), and the expansion of manufacturing capabilities at STAL joint venture in China ($35 million), which is consolidated within ATI's financial results. Depreciation and amortization expense in 2016 is forecasted to be approximately $180 million.