Empire Resources Announces Third Quarter Operating Results

FORT LEE, N.J., Nov. 10, 2005 -- Empire Resources, Inc. (AMEX:ERS) , a distributor of value added, semi-finished aluminum products, today announced net income for the three and nine months ended September 30, 2005 of $2,388,000 and $7,134,000 as compared to $1,415,000 and $3,614,000 for the same periods in 2004. Net income for the three and nine months ended September 30, 2005 increased to $0.24 and $0.72 per share on a fully diluted basis, as compared to $0.14 and $0.36 per share on a fully diluted basis for the same period in 2004.

Net sales for the three and nine months were $90,777,000 and $260,237,000 as compared to $53,809,000 and $159,599,000 for the same periods in 2004. Net sales increased 69% for the three month period and 63% for the nine month period as compared to the prior year.

Empire Resources, Inc., is a distributor of a wide range of semi-finished aluminum products to customers in the transportation, automotive, housing, appliance and packaging industries in the U.S., Canada, Australia and New Zealand. It maintains supply contracts with aluminum mills in various parts of the world.

This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks include, but are not limited to, changes in general, national or regional economic conditions, failure to successfully integrate new operations into the Company, the ability of the Company to grow internally or by acquisition and to integrate acquired businesses, not being able to improve operating margins and efficiencies, changing industry and competitive conditions, and other risks referred to in the Company's registration statements and periodic reports filed with the Securities and Exchange Commission.

               Condensed Consolidated Statements of Income
                  In thousands, except per share amounts

                                      Three Months Ended  Nine Months Ended
                                         September 30,       September 30,
                                         2005     2004      2005      2004

  Net sales                            $90,777  $53,809  $260,237  $159,599
  Cost of goods sold                    83,494   49,496   239,492   147,627

  Gross profit                           7,283    4,313    20,745    11,972
  Selling, general and administrative
   expenses                              2,247    1,745     6,692     5,265

  Operating income                       5,036    2,568    14,053     6,707
  Interest expense                       1,202      255     2,638       828

  Income before income taxes             3,834    2,313    11,415     5,879
  Income taxes                           1,446      898     4,281     2,265

  Net income                            $2,388   $1,415    $7,134    $3,614

  Weighted average shares outstanding:
       Basic                             9,743    9,553     9,654     9,566

       Diluted                          10,045    9,864     9,932     9,904

  Earnings per share:
       Basic                             $0.25    $0.15     $0.74     $0.38

       Diluted                           $0.24    $0.14     $0.72     $0.36