Wheeling-Pitt posts $35.6M profit as sales rise

Nov 09, 2004 | 09:39 AM |

Wheeling-Pittsburgh Steel Corp., Wheeling, W.Va., which emerged from bankruptcy protection last year, reported third-quarter income of $35.6 million as prices and demand for steel increased.

The results were an improvement from the second quarter, when Wheeling-Pittsburgh reported a profit of $27.1 million. A direct comparison with earnings in the third quarter of last year was not available as the company was operating under Chapter 11 bankruptcy protection for part of that quarter.

Net sales for Wheeling-Pittsburgh in the most recent quarter totaled $401.8 million. A year earlier, the predecessor company posted sales of $81.3 million for July 2003 while the reorganized company reported net sales of $159.8 million for August and September.....

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