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LA Business Journal reports that Reliance Steel & Aluminum Co. feels that higher steel prices contributed primarily to lower company’s fourth-quarter earnings.
LA Business Journal reports that Reliance Steel & Aluminum Co. feels that higher steel prices contributed primarily to lower company’s fourth-quarter earnings.
The market news is quoted as saying:
The Los Angeles metals processor on Thursday reported net income of $39.5 million (53 cents per share) compared with $92.1 million ($1.25) a year earlier. Sales rose 24 percent to $1.58 billion.
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