Atkore hit by low steel prices, loss soars

Aug 09, 2013 | 04:58 PM | Thorsten Schier

Tags  Atkore, quarterly results, John Williamson, pipe, tube, conduit, Thorsten Schier

NEW YORK — Atkore International Holdings Inc. fiscal third-quarter net loss jumped tenfold as the company was hit by lower steel prices.

Market conditions for Atkore’s global pipe, tube and conduit business remain competitive, but comparatively low steel prices affected the segment’s performance despite higher shipments, it said.

The company’s quarterly net loss of $30 million for the three months ended June 28 was up from a $3-million net loss a year earlier on sales that fell 5.1 percent to $406 million. ....

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