Roanoke Electric report second quarter earnings
Virginia-based Roanoke Electric Steel Corp. (RESCO) reported higher second quarter earnings on most of its products.
Second quarter net income increased to $6.6 million for a $1.4 million year on year increase. Revenue increased 19% to $137.9 million for the same period.
Donald G. Smith, chairman and CEO said, Generally, operating levels for the current period were lower, compared to last year
and we have followed the industry in adjusting our prices in order to remain competitive."
RESCO produces electric arc furnace steel and rolls merchant bars of angles, plain rounds,
flats and channels.