Sponsored by Lane Powell
Home Must Reads Schnitzer Steel's profits fall

Schnitzer Steel's profits fall

| Print |  Email
Must Reads
Tuesday, January 10, 2012

Demand for Portland-based Schnitzer Steel's recycled metals fells sharply in October due to fears of a global recession.

Tamara Lundgren said exports resumed the next month but at much lower prices, hurting results for Schnitzer’s fiscal 2012 first quarter. Net income for the quarter that ended Nov. 30 fell from $17.8 million, or 64 cents a share, to $7 million, or 25 cents a share, compared with the same period a year before.
Overall, Schnitzer's first-quarter sales rose 20 percent, from $675 million to $812 million. Analysts polled by Thomson Reuters most recently forecast revenue of $790 million.
Lundgren told stock analysts the October suspension in buying was highly unusual, reminiscent of customer uncertainties in the fall of 2008. But this time, she said, Schnitzer didn’t see the contract cancellations and credit contraction that occurred during the recession. She dismissed the latest downturn as temporary.

Read more at OregonLive.com.

{biztweet}schnitzer{/biztweet}

 

More Articles

Molecular Movies

September 2014
Wednesday, August 27, 2014
BY LINDA BAKER

Dr. Chong Fang isn’t God. But the assistant professor of chemistry at Oregon State University is getting closer to figuring out how he put everything together. 


Read more...

Attack of the Robin Sages

Contributed Blogs
Monday, July 07, 2014
070714 thumb linkedinfakesBY TOM COX | OB BLOGGER

Named after the 2010 experiment by Thomas Ryan, "Robin Sages" are fake social media profiles designed to encourage linking and divulging valuable information.


Read more...

Launch

September 2014
Tuesday, August 26, 2014
BY JESSICA RIDGWAY

September's Launch article features Orchid Health, BuddyUp and Inter-Europe Consulting.


Read more...

Community colleges and sustainability

Contributed Blogs
Thursday, July 31, 2014
sustainabilityBY MARY SPILDE | OB GUEST CONTRIBUTOR

Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.


Read more...

Podcast: Interview with Steve Balzac

Contributed Blogs
Tuesday, August 19, 2014

082014BalzacBY TOM COX | OB BLOGGER

Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."


Read more...

South Waterfront's revenge

News
Thursday, July 24, 2014
MoodyAveBY LINDA BAKER | OB EDITOR

Remember the naysayers?  Those who called the South Waterfront aerial tram a boondoggle?  Those who rejoiced at the massive sell off of luxury condos at the John Ross and Atwater Place?


Read more...

Green Endeavor cleans up

News
Wednesday, August 06, 2014
080614 ULnew greenendeavorBY LINDA BAKER | OB EDITOR

Portland startup Green Endeavor strikes gold, inking a partnership with Underwriters Laboratories, an Illinois-based consulting and certification company with offices in 46 countries.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS