Metal Management, Inc. announced third quarter sales of $447.6 million, a 73.7 percent increase from the previous year.
The company also reported earnings of $29.5 million, compared to net income of $12.6 million during the prior year’s quarter.
The company also reported net income of $76.1 million for the nine months, compared to net income of $27.1 million for the nine months ended December 31, 2003.
With the numbers for the quarter Metal Management stated that it is the 12th consecutive quarter of profit for the company.
The company noted that demand for scrap metal continued to be generally strong in both the company’s ferrous and non-ferrous markets. Third quarter ferrous yard shipments were more than 1.1 million tons, and its non-ferrous yard shipments were 115.4 million pounds for the quarter, both up about 6 percent from the volumes shipped in the third quarter of our last fiscal year.
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