Reliance Steel posts Q2 financial results

Friday, 16 July 2004 09:39:28 (GMT+3)   |  
       

Reliance Steel posts Q2 financial results

US metal service center Reliance Steel & Aluminum Co has recently posted financial results of second quarter, ended on June 30, 2004. According to the report, earnings of the company reached $52.8 million, up by 725% against $6.4 million recorded in the second quarter of previous fiscal year. Revenue of the company increased to $760.8 million, indicating a rise of 67% when compared with the revenue of $456.3 million recorded in the corresponding period of 2003. Reliance Steel, expecting the demand to keep its upward trend through the end of year and in 2005, forecasts its third quarter earnings to increase to $1.20 per share.

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