Reliance Steel &Aluminum Co., Los Angeles, CA, reported sales of $2.57 billion in the third quarter 2008, an increase of 42% from the year-ago period. Profit was $152.5 million, up 63%.
Reliance’s recent PNA Group acquisition is included in the results.
For the nine months ended Sept. 30, 2008, profit was $416.5 million, up 27%, and sales were $6.58 billion, up 18%.
The 2008 third quarter was reasonably strong from both a demand and pricing perspective, especially in July and August,” said David Hannah, CEO. “During September we began to see some softening in prices and volume. However, this slowdown was more than offset by our PNA Group acquisition on Aug. 1, which was accretive to our third quarter results.
“Overall, through the first …
Reliance Steel Sees Sales Gain in 3Q
Reliance Steel &Aluminum Co., Los Angeles, CA, reported sales of $2.57 billion in the third quarter 2008, an increase of 42% from the year-ago period. Profit was $152.5 million, up 63%.
Reliance’s recent PNA Group acquisition is included in the results.
For the nine months ended Sept. 30, 2008, profit was $416.5 million, up 27%, and sales were $6.58 billion, up 18%.
The 2008 third quarter was reasonably strong from both a demand and pricing perspective, especially in July and August,” said David Hannah, CEO. “During September we began to see some softening in prices and volume. However, this slowdown was more than offset by our PNA Group acquisition on Aug. 1, which was accretive to our third quarter results.
“Overall, through the first …
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