Scrap weakness puts Armco in red for 3d qtr.

Nov 15, 2013 | 04:25 PM | Sean Davidson

Tags  scrap, Armco Metals Holdings, Kexuan Yao, third-quarter earnings, chromium ore, manganese ore, Sean Davidson

NEW YORK — Metals recycler Armco Metals Holdings Inc. logged a net loss in the third quarter despite a substantial growth in revenue.

The San Mateo, Calif., distributor of imported metal ores and metals recycler in China posted a net loss of $3.5 million for the quarter ended Sept. 30 vs. net income of $134,655 in the same year-ago period despite revenue rising 33.3 percent to $20.5 million from $15.4 million.....

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