Steel dynamics posts strong numbers.Steel Dynamics Inc. (SDI (1) (Serial Digital Interface) A physical interface widely used for transmitting digital video in various formats. For electrical transmission, it uses a high grade of coaxial cable and a single BNC connector with Teflon insulation. ) has announced net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $2.2 billion for fiscal year 2005, a 2 percent increase over 2004 net sales of $2.1 billion. However, net income declined for the year to $222 million from $295 million in fiscal year 2004. SDI, based in Fort Wayne Fort Wayne, city (1990 pop. 173,072), seat of Allen co., NE Ind., where the St. Joseph and St. Marys rivers join to form the Maumee River; inc. 1840. It is the second largest city in the state, a major railroad and shipping point, a wholesale and distribution hub, , Ind IND Investigational new drug Therapeutics A status assigned by the FDA to a drug before allowing its use in humans, exempting it from premarketing approval requirements so that experimental clinical trials may be conducted. See Phase 1.2, 3 studies, Sponsorship. ., recorded $65 million in net income for the quarter, compared to $82 million in the fourth quarter of 2004. The company's fourth quarter net sales were $570 million, which is 6 percent lower than net sales for the corresponding quarter in 2004. SDI's operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. was $109 per ton shipped in 2005, with an operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: of 18 percent. Consolidated shipments for 2005 grew 5 percent to 3.6 million tons. Fourth quarter shipments were up 9 percent to 920,000 tons compared to 846,000 tons in the fourth quarter of 2004. Compared to the third quarter of 2005, fourth quarter consolidated shipments were essentially the same. The average consolidated selling price per ton shipped in the fourth quarter increased 15 percent to $619 from $540 in the third quarter, but was 13 percent lower than the $710 achieved in the fourth quarter of 2004. Steel scrap increased $41 per net ton from the third to the fourth quarter of 2005. SDI's 2005 capital expenditures of $63 million were somewhat lower than initially planned, as the company delayed several planned projects. "Although steel demand fell off sharply in the first half of the year, steel shipments rebounded in the second half of the year with backlogs remaining strong as we move forward in 2006," Keith Busse, SDI president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , says. "SDI anticipates first quarter results to be relatively unchanged, if not up slightly, from the fourth quarter," Busse adds. "Selling values could rise slightly, but it is too soon to make that call." SDI's acquisition of Roanoke Electric Steel should be completed by the end of the first quarter of 2006, giving the company nearly 5 million tons of steelmaking capacity. |
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