Reliance Steel Q4 Profit Update

Reuters reports that fourth-quarter profit of Reliance Steel & Aluminum Co (NYSE:RS) beats Wall Street estimates.

The market news is quoted as saying:

Reliance Steel, which buys metal from manufacturers and processes it for specific industry needs, said net fourth-quarter earnings were $39.5 million, or 53 cents per share, compared with $92.1 million, or $1.25 per share in the same quarter of 2009, the Los Angeles-based company said.

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