EMJ reports third-quarter and nine-months results.

BREA, Calif.--(BUSINESS WIRE)--Feb. 4, 1997--The Earle M. Jorgensen Co. ("EMJ") Tuesday reported revenues and earnings for the company's fiscal 1997 third quarter and nine months.

Revenues for the nine months and third quarter of fiscal 1997 were $756.1 million and $250.7 million, respectively. During the comparable periods of the prior year, revenues were $764.0 million and $254.7 million, respectively.

Operating income in the nine months and third quarter of fiscal 1997 was $29.5 million and $6.0 million, respectively. During the comparable periods of the prior year, operating income was $33.4 million (exclusive of a one-time restructuring charge of $12.8 million) and $13.3 million, respectively.

EMJ, with headquarters in Brea, is one of the largest independently owned distributors of metals in the United States, with 32 domestic service centers, six processing centers and six foreign operations located throughout Canada, Mexico, Singapore and the United Kingdom.

EMJ inventories more than 50,000 sizes, shapes and grades of bar, sheet, plate, structural, expanded metals, tubing and pipe in carbon, alloy steel, stainless and specialty aluminum and steel. -0-

                     Earle M. Jorgensen Co. (EMJ)
                       Financial Highlights

                                       Fiscal 1997     Fiscal 1996
Nine Months Ended
Dec. 31, 1996:

 Revenues                              $756,100,000    $764,000,000
 Operating income                        29,500,000      33,400,000 (a)
 Loss before taxes                       (1,000,000)    (10,200,000)
 Net loss                                (1,200,000)     (8,600,000)

Third Quarter Ended
Dec. 31, 1996:

 Revenues                              $250,700,000    $254,700,000
 Operating income                         6,000,000      13,300,000
 Income (loss) before taxes              (4,700,000)      2,600,000
 Net loss                                (4,800,000)       (500,000)

(a) Operating income for fiscal 1996 excludes a one-time restructuring
    charge for workforce realignment and asset write-downs totaling
    $12,800,000.

CONTACT: Murphy/O'Brien Communications

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