Reliance sees flat market ahead as earnings fall
Jul 25, 2013 | 12:47 PM
| Thorsten Schier
NEW YORK Reliance Steel & Aluminum Co. expects only slight improvements in demand and generally flat pricing in the third quarter due to global economic uncertainty, the company said in its second-quarter earnings report.
The Los Angeles-based distributor posted net income of $81 million for the three months ended June 30, down 25.6 percent from $108.8 million in the same period last year despite a 10.8-percent increase in sales to nearly $2.45 billion. First-half net income of $164.7 million was down....
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