Dallas, Texas-based wire manufacturer Keystone Consolidated Industries, Inc. announced Friday that net income in Q1 2011 totaled $7.7 million compared to $4.4 million in Q1 2010 as selling prices rose 13 percent year-on-year.
The overall average selling price during Q1 2011 was $856/net ton ($776/metric ton)-13 percent higher than the $755/net ton ($685/metric ton) average selling prices in the comparable quarter last year. Higher selling prices resulted primarily from price increases Keystone implemented due to higher operating costs, including ferrous scrap. Sales volumes also contributed to the gain, totaling 155,000 net tons in Q1 2011, 24,000 net tons more than in Q1 2010.