Carpenter Technology Corp. reported consolidated earnings results for the second quarter and six months ended December 31, 2011. For the quarter, the company reported net sales of $431.1 million, net income attributable to the company of $23.6 million, or $0.52 diluted earnings per share and free cash flow of $3.7 million as compared to net sales of $375.6 million, net income attributable to the company of $9.3 million, or $0.21 diluted earnings per share and free cash outflow of $89.9 million for the same period a year ago. Operating income was $43.9 million compared with $12.1 million a year earlier. Income before income taxes was $38.5 million compared to $10.8 million a year ago. For the six months period, the company reported net sales of $845.2 million, net income attributable to the company of $47.4 million, or $1.05 diluted earnings per share and free cash outflow of $105.5 million as compared to net sales of $727.3 million, net income attributable to the company of $16.9 million, or $0.38 diluted earnings per share and free cash outflow of $136.4 million for the same period a year ago. Operating income was $87.9 million compared with $26.2 million a year earlier. Income before income taxes was $74.8 million compared to $22.2 million a year ago. Net cash used for operating activities was $27.8 million compared to $64.1 million a year ago. Purchases of property, equipment and software was $60.3 million compared to $17.7 million a year ago.