Schnitzer Steel's profits fall, yet sales jump

Schnitzer Steel's profits fall, yet sales jump

Portland-based Schnitzer Steel Industries' profit fell during the second quarter, but sales jumped 23%.

The Portland-based metals company posted earnings Thursday of $10.4 million, or 35 cents a share, for the quarter ended Feb. 29, down from $32.1 million, or $1.10 a share, for the same period a year ago. 
Tamara Lundgren, president and chief executive officer, said in a news release that demand for recycled metals improved from the first quarter, driving higher sales volumes.

Read more at OregonLive.com.

{biztweet}schnitzer steel{/biztweet}