Lower prices slice into profits at Metalico in second quarter
Aug 05, 2005 | 05:29 AM
| Paul Schaffer
Metalico Inc.'s scrap metal recycling segment saw a 14-percent decline in second-quarter operating earnings to $2.2 million despite a 21-percent increase in revenue to $22.3 million.
The Cranford, N.J.,-based company attributed the tighter recycling margins to falling ferrous scrap prices.METALICO INC.(in thousands except per share) 200520042nd qtr. ended June 30Net sales$40,344$24,742Net income$1,206$1,254Per share0.050.066 months ended June 30Net sales$81,196$48,626Net income$2,809$2,904Per share0.120.13Most of what Metalico labels scrap metal recycling involves processing yards. Also included is secondary smelter Metalico Aluminum Recovery Inc. in Lackawanna, N.Y.....
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