Schnitzer Steel Industries Inc. (SCHN, Financial) filed Quarterly Report for the period ended 2010-05-31.
Schnitzer Steel Industries Inc. has a market cap of $1.09 billion; its shares were traded at around $39.2 with a P/E ratio of 33.8 and P/S ratio of 0.6. The dividend yield of Schnitzer Steel Industries Inc. stocks is 0.2%.SCHN is in the portfolios of David Williams of Columbia Value and Restructuring Fund, Chuck Royce of Royce& Associates, Kenneth Fisher of Fisher Asset Management, LLC, George Soros of Soros Fund Management LLC.
operating income of $53 million for the third quarter of fiscal 2010, compared to $6 million for the same period in fiscal 2009. The improvement in operating income was primarily due to increased world-wide demand for scrap and recycled metal, which led to higher average net selling prices and sales volumes, improvements in the availability of raw materials, and operating and production efficiencies that resulted in improved operating margins.
For the third quarter of fiscal 2010, APB generated revenues of $68 million, a $32 million increase from the same period in fiscal 2009. In addition, APB achieved operating income (which does not include operating results from discontinued operations) of $18 million for the third quarter of fiscal 2010, compared to operating income of $5 million for the same period in fiscal 2009. The increases in revenue and operating income were attributable to improvements in commodity prices, an increase from 39 to 45 self-service store locations, higher sales volumes and improved production operating efficiencies.
For the third quarter of fiscal 2010, SMB generated revenues of $86 million, a $40 million increase compared to the same period in fiscal 2009. The increase in revenues over the prior year period reflected a 54% increase in finished steel product volumes sold and a 21% increase in average finished steel product selling prices. The increase in sales tons reflected improved, but still weak, West Coast demand for finished steel products. SMB had operating income of $4 million for the third quarter of fiscal 2010, compared to an operating loss of ($5) million for the same period in fiscal 2009. The third quarter 2009 operating loss included $3 million of abnormal production costs that could not be capitalized into inventory.
Consolidated revenues for the third quarter of fiscal 2010 increased $322 million, or 84%, and increased $401 million, or 32%, for the first nine months of fiscal 2010 compared to the same periods in fiscal 2009, with improvements in all business segments. These increases were primarily driven by increased world-wide demand for scrap and recycled metal, which led to higher average net selling prices and sales volumes, and, to a lesser extent, by West Coast demand for finished steel products.
Consolidated operating income (loss) increased $68 million for the third quarter of fiscal 2010 and increased $169 million for the first nine months of fiscal 2010 compared to operating losses in the same periods in fiscal 2009. The $68 million improvement in third quarter operating income was primarily due to higher average net selling prices which outpaced our raw material purchase and production costs and higher sales volumes. The $169 million improvement in operating income in the first nine months of fiscal 2010 compared to the prior year was primarily due to higher average net selling prices and higher sales volumes, increased availability of
Read the The complete Report
Schnitzer Steel Industries Inc. has a market cap of $1.09 billion; its shares were traded at around $39.2 with a P/E ratio of 33.8 and P/S ratio of 0.6. The dividend yield of Schnitzer Steel Industries Inc. stocks is 0.2%.SCHN is in the portfolios of David Williams of Columbia Value and Restructuring Fund, Chuck Royce of Royce& Associates, Kenneth Fisher of Fisher Asset Management, LLC, George Soros of Soros Fund Management LLC.
Highlight of Business Operations:
For the third quarter of fiscal 2010, MRB generated revenues of $618 million, a $301 million increase from the same period in fiscal 2009. This included a $228 million, or 85%, increase in ferrous revenues and a $72 million, or 148%, increase in nonferrous revenues. The increase in ferrous revenues was primarily driven by a 70% increase in the average net selling price and a 13% increase in sales volumes, compared to the same period in the prior year. The increase in nonferrous revenues was primarily driven by an 84% increase in the average net selling price and a 38% increase in sales volumes, compared to the same period in the prior year. MRB hadoperating income of $53 million for the third quarter of fiscal 2010, compared to $6 million for the same period in fiscal 2009. The improvement in operating income was primarily due to increased world-wide demand for scrap and recycled metal, which led to higher average net selling prices and sales volumes, improvements in the availability of raw materials, and operating and production efficiencies that resulted in improved operating margins.
For the third quarter of fiscal 2010, APB generated revenues of $68 million, a $32 million increase from the same period in fiscal 2009. In addition, APB achieved operating income (which does not include operating results from discontinued operations) of $18 million for the third quarter of fiscal 2010, compared to operating income of $5 million for the same period in fiscal 2009. The increases in revenue and operating income were attributable to improvements in commodity prices, an increase from 39 to 45 self-service store locations, higher sales volumes and improved production operating efficiencies.
For the third quarter of fiscal 2010, SMB generated revenues of $86 million, a $40 million increase compared to the same period in fiscal 2009. The increase in revenues over the prior year period reflected a 54% increase in finished steel product volumes sold and a 21% increase in average finished steel product selling prices. The increase in sales tons reflected improved, but still weak, West Coast demand for finished steel products. SMB had operating income of $4 million for the third quarter of fiscal 2010, compared to an operating loss of ($5) million for the same period in fiscal 2009. The third quarter 2009 operating loss included $3 million of abnormal production costs that could not be capitalized into inventory.
Consolidated revenues for the third quarter of fiscal 2010 increased $322 million, or 84%, and increased $401 million, or 32%, for the first nine months of fiscal 2010 compared to the same periods in fiscal 2009, with improvements in all business segments. These increases were primarily driven by increased world-wide demand for scrap and recycled metal, which led to higher average net selling prices and sales volumes, and, to a lesser extent, by West Coast demand for finished steel products.
Consolidated operating income (loss) increased $68 million for the third quarter of fiscal 2010 and increased $169 million for the first nine months of fiscal 2010 compared to operating losses in the same periods in fiscal 2009. The $68 million improvement in third quarter operating income was primarily due to higher average net selling prices which outpaced our raw material purchase and production costs and higher sales volumes. The $169 million improvement in operating income in the first nine months of fiscal 2010 compared to the prior year was primarily due to higher average net selling prices and higher sales volumes, increased availability of
Read the The complete Report
