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

From the Editor: The human factor

March 2014
Tuesday, February 25, 2014

In this issue, we celebrate our 21st annual 100 Best Companies to Work For in Oregon project.


Read more...

The 2014 List: The Top 33 Small Companies to Work, For in Oregon

March 2014
Thursday, February 27, 2014

100best14logoWebOur 100 Best Companies project turned 21 this year, so pop open the Champagne. Our latest survey gives us plenty to cheer.

 


Read more...

Banishing oil burners reaps benefits for schools

News
Tuesday, April 01, 2014
04.02.14 thumb co2schoolsBY APRIL STREETER | OB CONTRIBUTOR

Three years ago, PPS set out to begin to convert the 1930s-era boilers from diesel/bunker fuel to cleaner-burning natural gas. Oregon’s largest school district has realized impressive carbon dioxide emissions reductions, setting an example for public and private institutions.


Read more...

100 Best Companies to Work for in Oregon [VIDEO]

News
Monday, March 03, 2014

Screen shot 2014-03-03 at 11.26.47 AM

Check out interviews with employees from some of the 100 Best Companies to Work For in Oregon winners and find out what makes their company a great place to work.


Read more...

Downtime with Ron Green

March 2014
Tuesday, February 25, 2014
BY JESSICA RIDGWAY

Ron Green became president and CEO of Oregon Pacific Bank in August 2013.


Read more...

The more they change, the more they stay the same

March 2014
Tuesday, February 25, 2014
100-best-collageBY BRANDON SAWYER

The 100 Best Companies get more creative with perks and more generous with benefits; employees seek empowering relations with management and coworkers.


Read more...

The solution to youth unemployment

News
Thursday, February 27, 2014
02.27.14 Thumbnail TeenworkBY ERIC FRUITS

Because they have little chance of working for someone else, today’s teens need to be entrepreneurs. But, first, we must teach our teens that entrepreneurship starts small.


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