Aleris Reports Third Quarter Results

BEACHWOOD, Ohio -- Aleris International, Inc. reported results for the quarter ended September 30, 2010. Revenue $1.1 billion. Net income （loss） $53.8 $（22.9）.Adjusted EBITDA （Underlying） $71.9

Aleris emerged from Chapter 11 bankruptcy protection on June 1, 2010. This resulted in the emerged Company being considered a new entity for financial reporting purposes. As a result, our financial statements for periods after June 1, 2010  are not comparable to the financial statements for periods prior to that date （references to the Company and the related financial statements for such periods, the "Predecessor"）. However, we have adjusted for the most significant of these differences in our presentation of Adjusted EBITDA.

For the third quarter of 2010, Aleris reported revenues of $1.1 billion compared to $816 million in the third quarter of 2009. For the third quarter of 2010, net income totaled $54 million compared to a net loss of $23 million in the third quarter of 2009. Third quarter 2010 net income totaled $46 million after excluding the net of tax impacts of $13 million of metal price lag, $4 million of reorganization items, $21 million of unrealized gains on derivative financial instruments, $1 million of gains from the impact of recording assets at fair value through fresh-start accounting and $1 million of restructuring, impairment and other charges.

For the third quarter of 2009, net income totaled $9 million excluding the net of tax impacts of metal price lag, reorganization items, gains from the impact of recording assets at fair value through fresh- start accounting, unrealized gains on derivative financial instruments, restructuring, impairment and other charges, and interest expense.