Harsco Metals & Minerals reported earnings results for the fourth quarter ended December 31, 2011. Sales in the fourth quarter of $372 million were virtually even with last year's fourth quarter sales. Foreign currency translation reduced sales in the quarter by approximately $4.6 million. Operating income in the fourth quarter increased to $27.6 million before the aforementioned restructuring charge, or approximately 15% above the operating income of $23.9 million in last year's fourth quarter. Operating margins in the quarter before the restructuring charge were 7.4%, compared with 6.4% in the fourth quarter of 2010, a 100 basis point improvement. Foreign currency translation reduced operating income in the quarter by approximately $0.4 million. The company expected to show improved operating margins and overall returns in 2012 as a result of the restructuring actions. End market activity is expected to continue to be slow in the first quarter of 2012 compared with the same period last year, due principally to European market conditions, but improve as the year progresses. The full year 2012 will also benefit from continued new contract signings.