Fort Lauderdale, Florida-based diversified service center Metals USA Holdings Corporation announced on April 18 that Q1 2012 net income totaled $16.3 million on net sales of $525.3 million. Q1 net sales are 21.5 percent higher than the $432.3 million in net sales company recorded for Q1 2011.
Metals shipments in Q1 2012 were 403,000 net tons (nt), up 10 percent compared with the 368,000 nt shipped in the first quarter of 2011.
Lourenco Goncalves, Chairman, President and C.E.O. of Metals USA stated: " Q1 2012 was indeed more profitable than Q4 2011. Sequentially from the previous quarter, shipments increased 23 percent, revenues increased 15 percent and net income increased 16 percent."
Mr. Goncalves added that "demand improved in Q1 across most sectors we serve, in particular automotive, aerospace, and oil & gas field services. Based on our current order book and committed business, we expect this trend to continue in the second quarter."