Reliance Steel & Aluminum Co., Los Angeles, CA, reported sales in the first quarter 2009 were $1.56 billion, down from $1.91 billion in the first quarter 2008. Profit was $20.1 million, down from $107.4 million in the prior-year period.
According to CEO David Hannah: "Our tons sold for the 2009 first quarter were down 1% and our average price per ton sold was down 16% compared to the 2008 first quarter. However, on a same-store basis, excluding our 2008 acquisitions, our tons sold were down 34% and our average price per ton sold was flat for the 2009 first quarter compared to the 2008 first quarter.
"Comparing our 2009 first quarter to the 2008 fourth quarter, our tons sold were down 14% and our average price per ton sold was down 15%. For the 2009 first quarter carbon steel sales were 58% of our revenues; aluminum sales were 17%; stainless steel sales were 12%; alloy sales were 8%; other sales were 3% and toll processing sales were 2%.
He reported that aerospace and energy-related sales "are still reasonably good" but still down from last year.
Reliance Steel & Aluminum Co. is a metals service center company with more than 200 locations in 38 states and Belgium, Canada, China, Mexico, Singapore, South Korea, and the United Kingdom.