ESMK Esmark (MM)

WHEELING, W.Va., June 12 /PRNewswire-FirstCall/ -- Esmark Incorporated (NASDAQ:ESMK) (the "Company") announced today that, based on its current expectations for production and shipments for the balance of the quarter, it expects second quarter net earnings to be in the range of $.35 to $.45 per diluted share, significantly better than the $.40 loss per share that the Company reported in the first quarter of 2008. Further, NASDAQ has notified the Company that its filing delinquencies have been remedied and the delisting proceedings which NASDAQ had initiated are considered moot and will not proceed. Esmark Chairman and CEO, James P. Bouchard, stated that "As projected in our earnings call comments on June 10, I am pleased to provide positive earnings per share guidance for the second quarter. While continued strength in the domestic flat rolled market provides the underpinnings for this expected performance, it is really about the exceptional improvement in our Mill Operations segment and the increasing contribution by our Downstream Operations segment. Clearly we are now poised to capitalize on these exceptional market conditions." Bouchard continued, "We are also pleased that NASDAQ took immediate action to halt the delisting proceedings following the filing of our first quarter Form 10-Q with the SEC. Our filings were delayed principally due to the complexity of the accounting related to the Wheeling-Pittsburgh merger transaction consummated on November 27, 2007. We are taking appropriate steps to ensure future compliance." Forward-Looking Statements Cautionary Language This release contains certain projections or other forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities-Exchange Act regarding future events or the future financial performance of the Company that involve risks and uncertainties. Forward-looking statements reflect the current views of management and are subject to a number of risks and uncertainties that could cause actual results to differ materially from actual future events or results. These risks and uncertainties include, among others, factors relating to (1) intense competition, dependence on suppliers of raw materials and cyclical demand for steel products; (2) lower than expected operating results for the Company; (3) the Company's potential inability to generate sufficient operating cash flow to service or refinance its indebtedness; (4) concerns relating to the maturity dates of its credit agreements; and (5) certain other risks identified in section "Item 1A - Risk Factors" of the Company's Annual Report on Form 10-K for the year ended December 31, 2007, and other reports and filings with the SEC, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing the Company's views as of any subsequent date. While the Company may elect to update forward-looking statements from time to time, the company specifically disclaims any obligation to do so. About Esmark Incorporated Esmark Incorporated is a vertically integrated steel producer and distributor, combining steel production capabilities through both blast furnace and electric arc furnace technologies with the just-in-time delivery of value-added steel products to a broad customer base concentrated in the Ohio Valley and Midwest regions. Currently headquartered in Wheeling, WV, the Company is a producer of carbon flat-rolled products for the construction, container, appliance, converter/processor, steel service center, automotive and other markets. The company's products include various sheet products such as hot rolled, cold rolled, hot dipped galvanized, electro-galvanized, black plate and electrolytic tinplate. More information about Esmark can be found at http://www.esmark.com/. DATASOURCE: Esmark Incorporated CONTACT: Media or Investor Relations: Dennis Halpin, +1-304-234-2421 +1-304-650-6474 (mobile), ; Media: Bill Keegan, Edelman, +1-312-927-8424 (mobile), Web site: http://www.esmark.com/ Company News On-Call: http://www.prnewswire.com/comp/967451.html

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