Gibraltar announces record results for Q3
North American steelmaker
Gibraltar reported its sales as $208 million for the third quarter of 2003 with a 20% increase compared to $173.2 million recorded in the third quarter of 2002. In the first nine months of 2003, company's sales were up by 17% to $573 million. These sale figures were the highest levels that the company ever had.
Furthermore, the company's total income was $8 million for the third quarter of 2003 with a 12% increase when compared with $7.1 million in the previous year. $21.1 million of net income was posted in the first nine months of 2003, is up by 10% compared to the corresponding period last year.
The acquisitions of
Construction Metal on April 1 and Air Vent on May 1 contribute approximately $100 million to company's this year's success.
However, the company does not expect a positive growth in the fourth quarter of 2003 due to the reduced number of shipping days and seasonal slowing in the
construction industry due to weather conditions.