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Distributors report 2002 losses. (Service Center News).

Publication: Metal Center News
Publication Date: 01-MAR-03 		Format: Online - approximately 793 words
Delivery: Immediate Online Access

Article Excerpt
Five publicly held metals distribution and processing companies had released their 2002 financials as of press time, and only two were in the black at the end of the year.

Ryerson Tull Inc., Chicago, lost more than $96 million last year, on revenues that fell 6.6 percent from 2001 and shipments that declined 7.3 percent.

The company's $5.7 million net loss for fourth quarter 2002, however, shows significant improvement over the $45 million loss in fourth quarter 2001. Similarly, the company's $12.4 million loss from continuing operations in 2002 compares favorably to the $60.2 million operating loss in 2001.

"While business conditions continued to deteriorate in 2002, with service center industry shipments down again for the year,...

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