Schnitzer Steel: Fiscal 1Q Earnings Snapshot
PORTLAND, Ore. (AP) _ Schnitzer Steel Industries Inc. (SCHN) on Wednesday reported fiscal first-quarter net income of $16.2 million.
The Portland, Oregon-based company said it had profit of 57 cents per share. Earnings, adjusted for restructuring costs and to account for discontinued operations, were 58 cents per share.
The recycler of ferrous and nonferrous scrap metal posted revenue of $564 million in the period.
Schnitzer Steel shares have risen 7 percent since the beginning of the year. The stock has dropped 39 percent in the last 12 months.