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Allegheny Tech. sees 2Q profit above forecast

By Associated Press

July 14, 2008

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Allegheny Technologies Inc. on Monday predicted its second-quarter profit will be higher than previously forecast, aided by a one-time tax gain.

The specialty metals producer now expects earnings of $1.65 per share to $1.67 per share, including the 11-cent per share tax benefit.

ATI said it previously estimated its second-quarter profit would be "somewhat higher" than the $1.40 per share it reported in the first quarter.

Analysts surveyed by Thomson Financial predict the company will earn $1.53 per share, on average.

ATI is scheduled to report its second-quarter results July 23.

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