ALJ profits rise despite weak steel prices

Jan 02, 2013 | 04:03 PM | Michael Cowden

Tags  ALJ Regional Holdings, Kentucky Electric Steel, John Scheel, fiscal 2012 earnings, bar flats, SBQ, Michael Cowden

PITTSBURGH — ALJ Regional Holdings Inc.’s profits expanded as economic strength in the middle of its fiscal year helped offset weaker steel prices in its fiscal fourth quarter.

The Ashland, Ky.-based parent of merchant bar quality and special bar quality (SBQ) flats producer Kentucky Electric Steel posted net income of nearly $13.28 million for the year ended Sept. 30, up 16.3 percent from $11.42 million the previous year despite a 2-percent decline in revenue to $158.78....

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