Aleris posts $31.5-million profit despite sales dip in third quarter
Nov 08, 2005 | 02:06 PM
Aleris International Inc.'s net income soared to more than $31.5 million in the third quarter from $1.7 million in the same period last year on sales of $554.9 million, down 5 percent from pro forma sales of $583.9 million last year.ALERIS INTERNATIONAL INC.(in thousands except per share) 20052004*3rd qtr. ended Sept. 30Net sales$554,919$583,900Net income31,5251,700Per share1.010.069 months ended Sept. 30Net sales$1,803,507$1,666,600Net income (loss)79,527(6,300)Per share2.55â€”* 2004 figures are pro forma.Three of the company's four business units reported declines in metal throughput but were able to increase operating earnings. The fourth unit, international aluminum, reported higher volume but a decline in operating earnings.....
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