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Reliance's tons sold for the 2011 first quarter were up 12 percent from the 2010 first quarter and up 15 percent from the 2010 fourth quarter. Average prices per ton sold in the 2011 first quarter were up 18 percent compared to the 2010 first quarter and up 6 percent compared to the 2010 fourth quarter.
Carbon steel sales were 53 percent of net sales; aluminum sales were 17 percent; stainless steel sales were 16 percent; alloy sales were 8 percent; toll processing sales were 2 percent; and other sales were 4 percent.
"Our sales and earnings for the 2011 first quarter were better than we originally expected primarily because pricing for all of our products increased during the quarter more than we had anticipated, which had a positive impact on both our gross profit margins and volume sold," CEO David H. Hannah said. "Real demand continued its steady growth. The markets where we saw the most growth during the quarter were energy, oil and gas; farm and heavy equipment; mining; rail cars; barges; and general manufacturing. Also remaining strong were semiconductor and electronics; aerospace; and our toll processing businesses, which are primarily related to the auto and appliance industries."
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