Fort Wayne, Indiana-based Steel Dynamics, Inc. (SDI) announced Monday that Q4 2010 net income of $8 million on net sales of $1.5 billion fell 137.5 percent compared to net income of 19 million in Q3 2010 on net sales of $1.6 billion. Q4 2010 net income was also down 237.5 percent compared to Q4 2009 net income of $27 million on net sales of $1.2 billion. However, SDI's full-year 2010 net income of $141 million on net sales of $6.3 billion was up significantly compared to a net loss of $8 million on net sales of $4 billion for 2009.
SDI's Q4 2010 steel shipments totaled 1.3 million net tons (nt), flat compared to the previous quarter but up 13 percent compared to the same quarter last year. Full-year 2010 steel shipments were 5.3 million nt, compared to 4 million nt in all of 2009.
From its Steel Operations sector, SDI's Q4 2010 net sales were $979 million on shipments of 1.3 million nt, compared to $790 million on shipments of 1.2 million nt during Q4 2009. For the whole of 2010, net sales were $4 billion on shipments of 5.3 million nt, compared to $2.6 billion on shipments of 4 million nt during 2009.
Q4 2010 net sales for the company's Metals Recycling and Ferrous Resources sectors totaled $770 million, with $4 million in operating losses, compared to net sales of $522 million and $3 million in net losses for Q4 2009.
SDI's Steel Fabrication operations yielded Q4 2010 net sales of $57 million with operating losses of $500,000, compared to Q4 2009 net sales of $27 million with $6 million in operating losses.