Novamerican Steel announces Q2 results

Novamerican Steel announces Q2 results

Montreal, Canada based steel maker Novamerican Steel has recently posted financials results of second quarter ending on May 29, 2004. Accordingly, net sales of the company in the second quarter are recorded as $204.2 million with an increase of 56.9% against $130.2 million recorded in the same period of previous fiscal. Net income of the company in the aforementioned period is recorded as $20.5 million, up by 1000.3% when compared with net income of $1.86 million recorded in the second quarter of previous fiscal. For the six-month period, net sales of the company reached $351.7 million, with an increase of 44.7% against $243 million recorded in the same period of previous fiscal. Net income of the company in the aforementioned period is recorded as $27.5 million, up by 689% against net income of $3.5 million recorded in the same period of previous fiscal.