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Fiscal year to date, sales declined 39% to $1.32 billion in a year-over-year comparison. The diversified metals manufacturer's profit for the period was $12.2 million, compared to a loss of $94.5 million a year ago.
"Our third quarter is always challenging with the short shipping months of December and February. But we are pleased that even with the additional impact from severe weather this year, our results were in line with our expectations before restructuring and one-time charges," CEO John P. McConnell said. "January was Steel's strongest shipping month since October of 2008. Pressure Cylinders had solid volumes in most product lines except for the industrial markets, particularly evident in Europe."
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