Fort Lauderdale, Florida-based Metals USA Holdings Corp released on Thursday their Q4 and end of year fiscal reports. For Q4 of 2011, net sales for Metals USA were US$455.7 million--a 40.7 percent increase from Q4 in 2010--with net income for Q4 at US$14 million compared to US$3.1 million in Q4 in 2010. Net sales for fiscal year 2011 were $1.9 billion, marking a 46 percent increase from 2010's fiscal year net sales of US$1.3 billion. Net income for fiscal year 2011 was US$64.9 million compared to US$11.5 million in fiscal year 2010.
Metal shipments for the Q4 of 2011 were 327,000 tons, an increase of 23.1 percent over metal shipments of 267,000 tons for the Q4 of 2010. Metal shipments for fiscal year 2011 were 1,396,000 tons, up 32.0 percent compared to metal shipments of 1,059,000 tons for fiscal year 2010. Toll processed tonnage was 33,000 tons during the fourth quarter of 2011 compared to 15,000 tons for the fourth quarter of 2010. Toll processed tonnage was 156,000 tons during fiscal year 2011 compared to 51,000 tons for fiscal year 2010.
Lourenco Goncalves, Chairman, President and C.E.O. of Metals USA, believes the outlook in 2012 is bright stating, "First quarter demand looks solid, and current price trends are favorable. We believe 2012 domestic steel consumption growth will outpace GDP growth."