On April 5, Ohio, US-based global steel processing company Worthington Industries, Inc. issued its financial results for the third quarter of fiscal year 2009-10, stating that the markets have been slow to recover in most of the company's businesses.
In Q3 FY 2009-10, the company's net loss was $17.7 million, compared to a net profit of $1.6 million in the same period of the previous fiscal year. Sales revenues of $451.11 million in Q3 FY 2009-10 saw a 10 percent year-on-year decrease from $501.13 million.
Company chairman and CEO John P. McConnell said, "Our third quarter is always challenging with the short shipping months of December and February. But we are pleased that, even with the additional impact from severe weather this year, our results were in line with our expectations before restructuring and one-time charges."