CMC swings to loss after restructuring
Oct 28, 2011 | 06:04 PM
| Lisa Gordon
Tags
rebar,
steel,
Commercial Metals,
Joe Alvarado,
Lisa Gordon
PITTSBURGH — Restructuring charges from closing a half dozen assets pushed Commercial Metals Co. into the red this past quarter, but the company said the move will increase its profitability and balance sheet going forward.
The Irving, Tex.-based steel producer reported a net loss of $120.3 million on $2.27 billion in sales for its fourth quarter ended Aug. 31. This compares with net earnings of $8 million on net sales of $1.82 billion for....
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