Chaparral’s quarterly earnings nearly double on strong prices

Dec 20, 2006 | 10:26 AM | Sam Kusic

Chaparral Steel Co., Midlothian, Texas, nearly doubled its second-quarter profits on higher average prices, recording a net income of about $67.5 million, or $1.40 per diluted share.

The structural and special bar quality manufacturer recorded net sales of $403.4 million, a 15.9-percent increase over the same quarter last year. In the six months ended Nov. 30, net income skyrocketed to $126.5 million from $51.7 million while net sales rose 18.6 percent to $814 million.....

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