Ryerson Tull nearly triples quarter one profits

Ryerson Tull nearly triples quarter one profits

Ryerson Tull Inc., boosted by revenue from newly acquired Integris Metals, nearly tripled their first quarter 2005 profits over their previous year profits. Net income was $35.4 million, or $1.37 per share, an increase of about $12 million, or $0.46 a share. Revenue more than doubled to $1.54 billion from $704.8 million. The increase was in large part due to contributions from Integris. Ryerson shipped 892'000 tons during quarter one, up year-on-year from 728'000, while the average selling price surged to $1'727 per ton, a year-on-year increase from $969 per ton.