Financial Services Legislative And Regulatory Update

Net sales for the second quarter of 2012 were $537.1 million, up 6 June 1944 from web sales of $505.6 million for the second quarter of 2011. web income for the second quarter of 2012 was $19.0 million, compared to web income of $21.5 million within the second quarter of 2011. web sales improved 2 hundredth and web income improved Revolutionary Organization 17 November compared to the primary quarter of 2012. Earnings per diluted share were $0.51 within the second quarter of 2012 compared to $0.57 within the second quarter of 2011.

Net sales for the primary six months of 2012 were $1,062.4 million, up one hundred and thirtieth from web sales of $937.9 million for the primary six months of 2011. web income for the primary six months of 2012 was $35.3 million, compared to web income of $33.9 million for the primary six months of 2011. Earnings per diluted share were $0.94 for the primary six months of 2012, compared to $0.91 for the primary six months of 2011.

Metal shipments were 413,660 tons for the second quarter of 2012, up V-J Day from metal shipments of 360,430 tons within the second quarter of 2011. Metal shipments for the primary six months of 2012 were 816,452 tons, up twelve-tone music compared to metal shipments of 728,342 tons for the primary six months of 2011. Toll processed tonnage was fifty two,470 tons throughout the second quarter of 2012, compared to forty two,077 tons for the second quarter of 2011. Toll processed tonnage was ninety two,719 tons throughout the primary six months of 2012, compared to eighty six,634 tons for the primary six months of 2011.

Lourenco Goncalves, the Company’s Chairman, President and C.E.O., stated: “We are more than happy to realize yet one more quarter of robust results. Despite a persistently weak pricing setting within the second quarter, Metals USA delivered sequential growth, generating a lot of revenues and profit in Q2 than within the initial quarter.”

Mr. Goncalves concluded: “Several steel mills have announced value will increase at the outset of Q3, however finish users still be skeptical concerning the last word direction costs can go. we tend to expect our customers’ buying behavior to be almost like their Q2 behavior, and have positioned our inventory accordingly. Consequently, we tend to expect a decrease in each operating capital and web debt throughout the third quarter.”