SDI's net income down 20% in 1st qtr.

Apr 16, 2014 | 06:33 PM | Thorsten Schier

Tags  Steel Dynamics Inc., SDI, quarterly earnings, steel, Mark Millett, Thorsten Schier

NEW YORK — Severe winter weather took a toll on Steel Dynamics Inc. (SDI) in the first quarter, as the company saw net income slide 20 percent despite a 1.9-percent increase in sales compared with the same period last year.

"The first quarter (of) 2014 was one of the most severe winter periods in recent history across much of the United States, especially in the Midwest where a majority of our operations are located, " chief executive officer Mark Millett said in a statement accompanying the company’s earnings results.....

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