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Russel Metals’ Q2 earnings fall
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Russel Metals, Ontario-based metals service center posted earnings in the second quarter totaled US$23 million, falling from US$31 million in the same period of a year earlier.
In the second quarter, the firm’s sales revenues amounted to US$719 million.
The revenues from its metals service center surged by 11% year on year to US$432 million in the second quarter; however, its gross margins were at 20.4%, lower than 23.7% in the second quarter of 2011.
Meanwhile, the revenues from its energy tubular products segment in the second quarter soared by 32% year on year to US$192 million, driven by huge pipe line orders in its US operations.
In addition, the sales revenues from its steel distribution segment rose by 11% year on year to US$92 million in the second quarter.
News Date
8/3/2012 1:36:43 PM
reported by
Margaret Yeh
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