Synalloy Corporation (NASDAQ: SYNL) recorded sales of $40,241,000 for the fourth quarter of 2011, up 7% from 2010. Net earnings for the quarter were $1,017,000, or $0.16 per share, down 30% from the prior year. This compares to sales of $37,639,000 and net earnings of $1,462,000, or $0.23 per share, in the fourth quarter of 2010. For the year 2011, sales were $170,575,000, up 13% from sales of $151,121,000 in 2010. Net earnings for 2011 increased 44% to $5,797,000 or $0.91 per share compared to $4,034,000 or $0.64 per share for 2010.

On its Metals Segment, Sales increased 9% to $29,974,000 while operating income increased 35% to $1,948,000 in the fourth quarter of 2011 from the same period a year earlier.

The Specialty Chemicals Segment’s revenues increased for the fourth quarter of 2011 by 2% compared to the fourth quarter of 2010.

SYNL, together with its subsidiaries, manufactures and sells pipes and piping systems in the United States and internationally. It operates in two segments, Metals and Specialty Chemicals.

For more information about SYNL please visit http://www.synalloy.com

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Watson Pharmaceuticals, Inc. (NYSE:WPI), In response to investment community speculation following release of the transcript of a pre-trial conference call related to its Lidoderm® patent challenge, Watson Pharmaceuticals, Inc. recently issued the following statement:

“Watson’s abbreviated new drug application (ANDA) for a generic version of Lidoderm remains on track. We believe questions related to the site where a biostudy supporting the ANDA was conducted have been addressed to FDA’s satisfaction. We continue to work closely with the FDA with the goal of timely approval. Watson has made public comments throughout the year regarding our Lidoderm application, including most recently at our analyst day on January 24th, where the Company restated our confidence that a tentative approval for generic Lidoderm will be received prior to the 30-month stay expiry on July 15, 2012.

“In order not to affect the pending patent litigation trial, it is our policy not to comment during litigation. Therefore, we will not provide additional comment on details that may arise during the trial.”

Watson Pharmaceuticals, Inc. is an integrated global specialty pharmaceutical company. The Company is engaged in the development, manufacturing, marketing and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on Urology and Women’s Health.

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Greenhill & Co., Inc. (NYSE:GHL) regretfully reported that two Managing Directors of the firm — Jeffrey F. Buckalew and Rakesh Chawla — are believed to have been aboard a private plane that crashed in New Jersey. The plane belonged to Mr. Buckalew, an experienced pilot whose passion was flying. They also believe that Mr. Buckalew’s wife, Corinne, and their two children, Jackson and Meriwether, were on the plane. Press reports indicate there were no survivors. The firm has no further information regarding the crash at this time.

Greenhill & Co., Inc. is a leading independent investment bank focused on providing financial advice on significant mergers, acquisitions, restructurings, financings and capital raisings to corporations, partnerships, institutions and governments.

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Magnetek, Inc. (NYSE:MAG), a leading provider of digital power and motion control systems, recently announced that it has entered into an amendment of its revolving credit facility with Associated Bank, National Association, which extends the facility through June 2013. The amended credit facility also expands the credit line from $7.5 million to $12.5 million. The credit facility may be used to fund working capital, letters of credit, and for other general corporate purposes.

Magnetek, Inc. provides digital power and motion control systems used in overhead material handling, elevator, and energy delivery applications.