Reliance Steel & Aluminum 3Q Sales Grow 87%
Reliance Steel & Aluminum Co., Los Angeles, CA, sales for the third quarter ended Sept. 30, 2006, were $1.6 billion, an increase of 87% compared with 2005 third quarter sales of $870.1 million. Net income was $107.5 million, twice the profit of the same period last year.
The 2006 third quarter results include Yarde Metals, Inc. acquired on Aug. 1, 2006 and Earle M. Jorgensen Company acquired on April 3, 2006.
For the nine months ended Sept. 30, 2006, profit amounted to a record $279.9 million, up 93% compared with net income of $144.8 million for the same period in 2005. Sales for the 2006 year-to-date period were a record $4.2 billion, an increase of 67% compared with 2005 nine-month sales of $2.5 ...