{"id":21036,"date":"2012-02-16T12:52:00","date_gmt":"2012-02-16T12:52:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/reliance-steel-aluminum-the-2011-fourth-quarter-started-out-slower-than-expected\/21035\/"},"modified":"2012-02-16T12:52:00","modified_gmt":"2012-02-16T12:52:00","slug":"reliance-steel-aluminum-the-2011-fourth-quarter-started-out-slower-than-expected","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/reliance-steel-aluminum-the-2011-fourth-quarter-started-out-slower-than-expected\/21036\/","title":{"rendered":"Reliance Steel &amp; Aluminum &#8211; The 2011 fourth quarter started out slower than expected"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><strong>Reliance Steel &amp; Aluminum Co. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=RS\">NYSE:RS<\/a>)<\/strong> reported its financial results for the fourth quarter and year ended December 31, 2011. For the 2011 fourth quarter, Reliance reported net income of $67.9 million, up 72% from the 2010 fourth quarter net income of $39.5 million, and down 20% from $84.9 million in the 2011 third quarter. Earnings per diluted share were $.91 in the 2011 fourth quarter, up 72% from the 2010 fourth quarter earnings per diluted share of $.53, and down 19% from $1.13 in the 2011 third quarter. Sales for the 2011 fourth quarter were $2.03 billion, up 28% from 2010 fourth quarter sales of $1.58 billion, and down 5% from 2011 third quarter sales of $2.14 billion. The 2011 fourth quarter financial results include in cost of sales a pre-tax LIFO charge, or expense, of $17.8 million, compared with a pre-tax LIFO charge of $10.0 million for the 2010 fourth quarter, and $22.5 million for the 2011 third quarter.<\/p>\n<p>For the 2011 year, net income amounted to $343.8 million, up 77% compared with net income of $194.4 million for the 2010 year. Earnings per diluted share were $4.58 for the year ended December 31, 2011, up 75% compared with earnings of $2.61 per diluted share for the year ended December 31, 2010. Sales for the 2011 year were $8.13 billion, up 29% compared with the 2010 year of $6.31 billion. The 2011 financial results include in cost of sales a pre-tax LIFO charge, or expense, of $85.3 million compared with a pre-tax LIFO charge of $34.8 million for the 2010 year. The LIFO adjustments, in effect, reflect cost of sales at current replacement costs.<\/p>\n<p>Reliance\u2019s tons sold in 2011 were up 13% from 2010 and the average price per ton sold in 2011 was up 15% compared to 2010. For 2011, carbon steel sales were 53% of net sales; aluminum sales were 15%; stainless steel sales were 15%; alloy sales were 10%; toll processing sales were 2%; and other sales were 5%.<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>David H. Hannah, Chairman and CEO of Reliance, said, \u201cThe 2011 fourth quarter started out slower than we expected, with tons sold in October up only slightly over September on a per day basis. However, November and December tons sold were stronger than we had anticipated resulting, overall, in a solid fourth quarter demand environment. Our full year 2011 results improved nicely from 2010. Demand continued to improve slowly and steadily in many markets where we sell our products. Those industries where we experienced more significant improvements over 2010 were energy (oil &amp; gas), agriculture and mining. Aerospace, semiconductor and electronics, and our toll processing businesses, primarily related to the auto industry, were also solid. Even non-residential construction improved slightly over 2010, but significantly lagged compared to the improvements in our other markets.\u201d<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/general-motors-reports-q4-and-full-year-results-gm\/21087\"><br \/>\nGeneral Motors Reports Q4 and Full Year Results (GM)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/baidu-coms-q4-profits-soars-77\/21085\"><br \/>\nBaidu.com\u2019s  Q4 Profits Soars 77%.<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-rise-as-dollar-weakens-3\/21083\"><br \/>\nGold Prices Rise as Dollar Weakens<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-surge-on-economic-data-hopes-for-greece\/21081\"><br \/>\nStocks Surge on Economic Data, Hopes for Greece<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-headed-for-a-strong-finish-17\/21048\"><br \/>\nStocks Headed for a Strong Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-remain-in-red-in-mid-day-trading-3\/21047\"><br \/>\nGold and Silver Prices Remain in Red in Mid-Day Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/2011-was-an-excellent-year-for-barrick\/21046\"><br \/>\n2011 was an excellent year for Barrick<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Reliance Steel &amp; Aluminum Co. (NYSE:RS) reported its financial results for the fourth quarter and year ended December 31, 2011. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[6],"tags":[2051],"class_list":["post-21036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot-stocks-to-watch","tag-after-hours"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/21036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=21036"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/21036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=21036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=21036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=21036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}