Gerdau Ameristeel posts Q1 results
Gerdau Ameristeel has recently announced financial result of the first quarter ended on March 31, 2004.
According to the report, in the first quarter of 2004, the company posted a net income of $21.5 million on net sales of $619 million against the loss of $6.3 million on net sales of $416.6 recorded in the corresponding period of previous year.
The company's EBITDA is recorded as $59.2 million in the first quarter of 2004 against EBITDA of $12.2 million recorded in the same quarter of 2003.
Depending on strong demand from
North America, shipments of finished steel products increased by 12% to 1.5 million tons, against same period of 2003.