Steel Dynamic upwardly revises fourth quarter outlook
Indiana-based Steel Dynamics Inc. recently announce that it hope to see strong-than-expected fourth quarter results. The company's newly revise earnings forecast expects fourth quarter 2005 earning per diluted share result of $1.20 to $1.25, far exceeding the previously expected $1.07 Keith Busse, president and CEO of Steel Dynamics said, "We are entering the first quarter with strong backlogs for our flat-rolled and structural products and believe that service center inventories are now at reasonable levels. We will begin operating our new bar finishing facility in the first quarter of 2006 which we believe will drive continued improvement in shipments for our Bar Products Division in the new year."