Metalico Reports 2004 Financial

Net income from operations for the year ended Dec. 31, 2004 was $6.7 million, or $.29 per share on a fully diluted basis, on sales of $115 million compared to net income of $2 million, or 8 cents per share, on sales of $61 million for the year ended Dec. 31, 2003. These results represent a $54.1 million increase in sales and an increase in net income and per share results of $4.7 million over the 2003 results.

Sales for the fourth quarter of 2004 increased by 132 percent, totaling $39.4 million compared to $16.9 million in the prior year's fourth quarter.

Net income for the fourth quarter of 2004 was $1.8 million, or 7 cents per fully diluted share, compared to net income and diluted earnings per share of $2.7 million and 12 cents respectively. The 2003 fourth quarter results benefited from income of $1.5 million from discontinued operations attributed to a change in estimate of assets previously written off.

The increase in sales is because of higher average selling prices and unit volumes in the scrap metal operations and to a lesser extent, the purchase of the remaining 50 percent joint venture interest in Mayco Industries.

Carlos E. Aguero, president and CEO of Metalico, says, "We are pleased to report a year of record sales and profitability and perhaps more importantly, continued progress in our growth. In 2004, we solidified our position in the fabricated lead products business with our purchase of the Mayco joint venture interest. We continued to expand our scrap operations in Western New York with acquisitions in the Buffalo and Rochester service area. Furthermore, we strengthened our Balance Sheet and improved our access to sources of capital so we can continue to execute our acquisition and growth strategy in 2005."

Metalico Inc. is a holding company with operations in ferrous and nonferrous scrap metal recycling and fabrication of lead-based products. The company operates five recycling facilities and six lead fabrication plants in six states. Metalico's common stock is traded on the American Stock Exchange under the symbol MEA.