Metals USA’s earnings drop but gross margin preserved

Feb 06, 2013 | 04:23 PM |

Tags  Metals USA Holdings, earnings report, Lourenco Goncalves, shipments, inventories, margins

CHICAGO — Service center operator Metals USA Holdings Corp. posted net income of $3.7 million for the fourth quarter, down 73.6 percent from $14 million in the same period a year earlier, on sales that slipped 4 percent to $437.5 million.

Its fourth-quarter results included a non-recurring pre-tax expense of $6.3 million on debt extinguishment in connection with the company’s senior secured note refinancing, $600,000 for non-cash pretax annual pension expenses and $200,000 for pre-tax expenses attributable to secondary offering costs.....

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