International Steel Group post Q2 financial results

International Steel Group post Q2 financial results

Ohio-based steel producer International Steel Group (ISG) today posted financial results of second quarter, ended on June 30, 2004. According to the report released by ISG, net income of the company in the second quarter increased to $94.1 million, up by 33% against $70.9 million recorded in the first quarter of 2004. Accordingly, net income of the company reached $165 million in the first half of 2004. In the second quarter of 2003, the company reported net loss of $27.5 million and the net loss recorded in the first half of 2003 reached $29.8 million. Net sales in the second quarter of 2004 were recorded as $2'083 billion, up by 18% when compared with the net sales recorded in the first quarter of 2004. In the subject quarter, operating income increased to $129.5 million from $86.5 million recorded in the first quarter of 2004.