Russel profit shrinks as steel demand ‘sluggish’
Feb 13, 2013 | 04:18 PM
| Corinna Petry
Tags
Russel Metals,
Brian Hedges,
Marion Britton,
earnings report,
Corinna Petry
CHICAGO — Russel Metals Inc. posted net income of Canadian $98.8 million ($98.61 million) last year, down 16.5 percent from C$118.3 million in 2011 despite an 11.4-percent jump in sales to just over C$3 billion ($2.99 billion).
The company’s fourth-quarter net income of C$20.4 million ($20.36 million), down 28.4 percent from C$28.5 million in the same period a year earlier, included income from oilfield equipment distributor Apex Distribution Inc., which contributed $6 million in operating earnings after Russel acquired it in November 2012 (amm.com, Nov. 9). But the positive contribution to Russel’s energy-products segment....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here