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Earnings Roundup

Reliance Steel profit jumps 63%

October 17, 2008|From the Associated Press

Reliance Steel & Aluminum Co.'s third-quarter earnings climbed 63% partly because of gains from an acquisition, the Los Angeles company said.

Net income increased to $152.5 million, or $2.07 a share, compared with $93.6 million, or $1.22, a year earlier.

Quarterly sales jumped to a record $2.57 billion from $1.81 billion last year.

Shares of Reliance gained $3.28 to $25.66.

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