Katrina, energy costs slam SDI's earnings in third quarter

Oct 20, 2005 | 07:24 AM |

Steel Dynamics Inc., Fort Wayne, Ind., called its third-quarter results "solid" despite what amounted to a 60-percent decline in net income compared with the record results logged for the comparable period last year.

SDI's net sales were down 21.4 percent in the same comparison.

STEEL DYNAMICS INC.(in thousands except per share) 200520043rd qtr. ended Sept. 30Net sales$498,689$634,741Net income$45,408$113,614Per share0.922.019 months ended Sept. 30Net sales$1,615,221$1,544,543Net income$156,848$212,868Per share3.053.80Operating income totaled $81.9 million during the quarter, down 57.6 percent from $193.3 million in the third quarter of 2004. With consolidated shipments of 923,925 tons during the quarter, the company earned an operating profit of nearly $89 per ton shipped, down from an operating profit of $215 per ton shipped....

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