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Orange County Earnings

April 21, 1998

Earle M. Jorgensen Co.: The Brea metal distributor said it lost $300,000 in the fourth quarter, which included a $5.4-million charge for the early retirement of debt. That compares with a year-earlier loss of $25.4 million, which included $20.1 million in charges for divestitures, closures and work-force reductions. Revenue in the period ended March 31 rose 3% to $274.5 million from $267.5 million. For the year, net income totaled $15.8 million, compared with a $26.6-million loss for the previous fiscal year. Revenue increased 10% to a record $1.1 billion from $1 billion.

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