Worthington Industries Sales Grow 12% in 1Q 2007
Steel service center Worthington Industries, Inc., Columbus, OH, saw sales growth of 12% for the first quarter ended Aug. 31, 2006, with sales of $778.7 million. First quarter 2007 net earnings were $43.2 million, up 52% from the same period last year.
Demand in two of Worthington id=bwanpa5>'s key end markets, commercial construction (especially office buildings) and automotive, may continue to soften. Recent announcements of production cuts by General Motors, Ford and Chrysler will create a more challenging environment for the Steel Processing segment.
Uncertainty regarding the economy and interest rates, coupled with relatively high material prices, has contributed to delays in planned commercial construction starts by customers ...