Commercial Metals’ net income rises 22.6% in 1st qtr.

Dec 21, 2006 | 04:25 AM | Paul Schaffer

Commercial Metals Co.'s (CMC's) fiscal first-quarter net income rose 22.6 percent to $85.4 million on sales of $2 billion vs. year-earlier net income of $69.6 million on sales of $1.6 billion.

"Each of our segments attained record earnings with the exception of marketing and distribution, which absorbed a large LIFO (last in, first out inventory accounting) charge," according to Murray McClean, CMC's president and chief executive officer, said. The....

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