Reliance Steel & Aluminum Co. Sales Up 14% in 2005
Reliance Steel & Aluminum Co., Los Angeles, CA, saw sale climb 14% in 2005 to $3.37 billion, compared with $2.94 billion in 2004. Profit was up to $205.4 million, compared with $168.7 million in 2004.
For the 2005 fourth quarter, profit was a record $60.6 million, up 41% compared with the same period in 2004. Sales for the fourth quarter were $868.7 million, up 17% compared with 2004 fourth quarter sales.
"The continuation of strong metals pricing and demand for our products across the board in all the end markets that we support and the acquisition of Chapel Steel contributed to our record-breaking results for 2005,' said David H. Hannah, Reliance CEO. 'The fourth quarter's operating results were better than we expected regarding both pricing and demand levels. The ...