Phoenix, Arizona-based Schuff International, Inc. the largest steel fabrication and erection company in the US, reported net income of $700,000 in Q3, as revenues jumped 54.8 percent year-on-year. Net income in Q3 2010 was $300,000. However, in the first nine months of 2011, net income fell from $2.5 million a year ago to $0.5 million in 2011, although revenues were up 22.4 percent from last year.
Even with the decline in earnings for the first nine months of the year, Scott A. Schuff, President and CEO, noted that "we are beginning to see positive signs for commercial construction in several geographic regions." Additionally, Schuff announced that Schuff Hopsa Engineering, the company's Panamanian joint venture, has just started-up and already has backlog well into 2012.