Steel Technologies posts record results for Q2

Steel Technologies posts record results for Q2

US flat rolled steel processor Steel Technologies has recently announced its financial results for the second quarter ended on March 31, 2004. The company reported record results for the aforementioned period. Net income of the company increased to $6.9 million in the second quarter of current fiscal against $2 million recorded in the same quarter of previous year. Moreover, sales of the company reached to $184.8 million up by 42%, when compared with $130 million recorded in the corresponding period of previous fiscal. For the six-month period ended on March 31, 2004, net income of the company is recorded as $9.3 million against $5.8 million recorded in the first half of previous fiscal. Moreover, sales of the company in the subject period increased to a record level of $315.6 million. The sales in the first half of previous fiscal were recorded as $256.1 million.