CSI slides into red in third quarter as shipments, selling prices drop

Oct 18, 2005 | 10:12 AM |

A nearly 18-percent drop in shipments, lower average sales prices and higher slab consumption costs combined with a jump in energy costs to yield a third-quarter net loss for California Steel Industries Inc. (CSI).

CALIFORNIA STEEL INDUSTRIES INC.(in thousands) 200520043rd qtr. ended Sept. 30Net sales$287,698$390,255Net income (loss)(1,065)46,1119 months ended Sept. 30Net sales933,607$915,101Net income30,68274,232The Fontana, Calif.,-based flat-rolled producer said prices for electricity rose 16 percent from the same period last year-and were up 48 percent from the second quarter-while natural gas....

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