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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