A.M. Castle Sees Improved Demand, Reports Metal Sales Up 21.3%
A. M. Castle & Co. reported financial results for the third quarter ended September 30, 2011. Net sales were $294.9 million, up from $244.9 million in 3Q10. Net income was $3.8 million, up from $0.1 million in 3Q10.
The Metals segment did well for the quarter with sales up 21.3% from last year to $264.4 million. Tons sold per day were up 20.3% from 3Q10 and 3.5% from 2Q11.
Michael Goldberg, President and CEO of A. M. Castle, said the company saw “continued improvement in demand within many of our key endues markets including oil and gas, mining and heavy equipment, general industrial markets and automotive.”
Goldberg expects demand to remain steady for fourth quarter 2011.
Source: A.M. Castle & Co.