November 21, 2008

Metalico 2007 net income up by 44% YoY

Metalico Inc announced its best year ever, with increases in revenues, operating income and net income for 2007 compared to 2006. Net income for the year ended December 2007 was USD 14.8 million on sales of USD 334.2 million as compared to net income of USD 10.3 million on sales of USD 207.7 million for the year ended December 2006. These results represent an increase in sales of USD 126.5 million or 61% YoY over the 2006 results. Operating income for 2007 increased USD 9.5 million or 48% YoY to USD 29.4 million as compared to USD 19.9 million for 2006.

2007 record financial results highlights:

1. Revenues of USD 334.2 million exceeded 2006 by 61% YoY.
2. Operating income of USD 29.4 million, a 48% YoY increase over 2006.
3. Net income of USD 14.8 million compared to net income of USD 10.3 million in 2006, an increase of 44% YoY.
5. EBITDA of USD 37.2 million compared to USD 24.3 million in 2006, an increase of 53% YoY.

Mr Carlos E Agüero president & CEO of Metalico said that "Our record financial performance in 2007 resulted from a successful acquisition program, strong pricing across most commodity products sold and dedicated execution by our employees and managers. Despite the challenging environment we expect that 2008 will be another year of strong growth for Metalico."

Metalico Inc is a rapidly growing Ferrous and Non Ferrous scrap metal processor operating in New York, New Jersey, Pennsylvania, Texas, Mississippi and Ohio. It is also the nation's largest fabricator of lead based products, other than batteries. The Company sells its products on a nationwide basis to a diverse industrial customer base.