Globe Specialty Metals Inc.'s fiscal third-quarter sales were impacted by weather-related shipment delays, although earnings rose nearly fivefold. Meanwhile, the company noted that its proposed merger with Grupo FerroAtlántica SA has progressed through the regulatory review process. The Miami-based company posted net income of $7.7 million for the three months ended March 31 compared with net income of $1.6 million a year earlier despite sales slipping 0.7 percent to $194.7 million from $196.1 million in the same comaprison. Sales also eased 1.7 percent from $198 million in the fiscal second quarter ended Dec. 31.
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