Irving, Texas-based steelmaker, metals recycler and fabricator, Commercial Metals Company (CMC), announced Monday that for its fiscal 2012 first quarter, earnings are expected to be between $0.87 to $0.97 per diluted share, compared to a $1.04 loss per share in the previous quarter. Fiscal Q1 2012 earnings are also expected to be substantially higher than fiscal Q1 2011 earnings of $0.01 per share.
CMC also announced that at the end of fiscal Q1 2012, production in the melt shop and rolling mill ceased at the company's Croatian pipe mill--on October 7 CMC reported that it would exit its Croatian pipe mill by way of sale and/or closure. Final shipments from the mill will be made in fiscal Q2 2012.