Columbus, Ohio-based diversified metals manufacturer Worthington Industries reported Thursday that for its fiscal Q2 2012 quarter (ended November 30, 2011), net earnings totaled $18.5 million. Q2 2012 earnings were lower than the $25.7 million in Q1 2012, but higher than Q2 2011 earnings of $14.5 million.
John McConnell, Chairman and CEO of Worthington was pleased with the results, which he said showed "solid incremental growth." Worthington's Steel Processing and Pressure Cylinders businesses were especially strong in Q2, and nearly offset losses from the company's Metal Framing business.
Steel Processing's net sales of $373.5 million in Q2 2012 were up 18 percent from the same quarter last year, as a result of higher average selling prices and a 12 percent increase in volumes. Pressure Cylinder's net sales of $181.5 million were up 33 percent from the comparable quarter a year ago.