Reliance’s qtr. earnings increase nearly 26%
Apr 26, 2012 | 07:06 PM
| Corinna Petry
Tags
Reliance Steel & Aluminum,
David H. Hannah,
quarterly earnings,
shipments,
demand,
pricing,
stainless,
carbon steel
CHICAGO — Reliance Steel & Aluminum Co. reported first-quarter net income of $116.2 million—a nearly 26 percent year-on-year increase—on sales that grew 19.6 percent to $2.29 billion.
Earnings for the Los Angeles-based service center chain were also up 71.1 percent from $67.9 million in the fourth quarter of 2011 on sales that rose 12.5 percent from $2.03 billion in the same comparison. ....
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