Date: January 27, 2005
Source: News Room
Metal Management Inc. has announced that its third-quarter profit more than doubled on increased demand for scrap metal. For the three months ended Dec. 31, net income rose to $29.5 million, or $1.19 per share, from $12.6 million, or 54 cents per share, a year ago. Sales grew 74 percent to $447.6 million from $257.7 million. The company's third-quarter ferrous and nonferrous yard shipments rose 6 percent to more than 1.1 million tons and 115.4 million pounds.
More information: www.mtlm.com.
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