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July 25, 2012
Metals USA Reports Profitable Quarter
Metals USA Holdings Corp., Fort Lauderdale, Fla., reported net sales of $537.1 million during the company’s second quarter, a 6 percent improvement from the same period a year ago. Net sales were up 2 percent from the first quarter of 2012.
The service center company reported net income of $19.0 million, a modest decline from the $21.5 million reported during last year’s second quarter. Net income did improve 17 percent compared to the first quarter.
"We are very pleased to achieve yet another quarter of strong results. Despite a persistently weak pricing environment in the second quarter, Metals USA delivered sequential growth, generating more revenues and profit in Q2 than in the first quarter," said Lourenço Gonçalves, the company's chairman, president and CEO.
Net sales for the first six months topped $1.06 billion, up 13 percent from net sales of $937.9 million for the first six months of 2011. Net income for the first six months of 2012 totaled $35.3 million, compared to net income of $33.9 million for the first six months of 2011.
Metals USA’s metal shipments hit 413,660 tons for the second quarter of 2012, up 15 percent from shipments of 360,430 tons in the second quarter last year. Metal shipments for the first six months of this year totaled 816,452 tons, up 12 percent from the same period last year.
Toll processed tonnage was 52,470 tons during the second quarter, an increase of 24.7 percent from the second quarter of 2011. The company toll processed 92,719 tons during the first six months of 2012, up 7.0 percent from the first six months of 2011.
"Several steel mills have announced price increases at the outset of Q3, but end-users continue to be skeptical regarding the ultimate direction prices will go. We expect our customers' purchasing behavior to be similar to their Q2 behavior, and have positioned our inventory accordingly. Consequently, we expect a decrease in both working capital and net debt during the third quarter," Goncalves said.
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2013 Directory of Master Distributors
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The Metal Center News Directory of Master Distributors—distributors who sell to other distributors—is an invaluable tool for service centers seeking new sources for special or hard-to-find products. Master distributors play an important role in the marketplace, giving service centers an alternative to buying in mill quantities and helping to remove redundant and excess inventories from the distribution channel.
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2013 Directory of Toll Processors
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Metal Center News' annual toll processing directory is a simple-to-use resource to help companies locate service providers that can meet their specific processing needs.
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