Schnitzer Steel reports Q3 financial results

Schnitzer Steel reports Q3 financial results

Oregon, Portland-based steel producer Schnitzer Steel Industries has recently announced financial results of third quarter ended on May 31, 2004. Accordingly, the company reported its net income as $42.5 million on revenues of $193.8 million against the net income of $15 million on revenues of $127.9 million recorded in the corresponding period of previous fiscal year. Moreover, net earnings of the company in the first nine months of current fiscal year are recorded as $73.2 million on revenues of $483.7 million. Net earnings were recorded as $26.3 million on revenues of $343.3 million in the first nine months of previous fiscal year.