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Article Excerpt
BOOSTED BY THE SALES of its recent Yarde Metals and Earle M. Jorgensen acquisitions, Los Angeles-based Reliance Steel & Aluminum Co. reported that its third-quarter revenues hit a record $1.6 billion, an increase of 87 percent compared with 2005 third-quarter sales. The company's third-quarter net income hit a record $107.5 million, more than double the $49.4 million in the 2005 third quarter.
For the first nine-months of 2006, Reliance's sales hit a record $4.2 billion, an increase of 67 percent compared with 2005 nine-month sales of $2.5 billion. Net income year-to-date amounted to a record $279.9 million, up 93 percent vs. the same period in 2005.
"Needless to say, the addition of Yarde Metals' sales and profits in the months of August and September, along with EMJ's contributions for the full third quarter, helped propel...
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