Yesterday, Allegheny Technologies Inc. (NYSE:ATI) reported full year and fourth quarter 2008 financial results. For the fourth quarter of 2008, the company reported net income of $110.9 million, or $1.15 per share compared to $148.9 million, or $1.45 per share during the same period last year. Sales for the fourth quarter were $449.2 million, 12% lower than the fourth quarter 2007. Net income for the full year 2008 was $565.9 million, or $5.67 per share, compared to net income of $747.1 million, or $7.26 per share for the prior year. The full year 2008 sales were $5.31 billion, 2.6% lower than sales for 2007.

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