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Earnings Roundup / Reliance Steel

Results beat expectations

February 20, 2009|Times Wire Reports

Reliance Steel & Aluminum Co. reported fourth-quarter profit that surpassed analysts' expectations.

The Los Angeles company said profit fell to $66.3 million, or 90 cents a share, from $79.9 million, or $1.06, a year earlier. The average estimate of seven analysts surveyed by Bloomberg was 64 cents a share, excluding some items.

Revenue rose 26% to $2.14 billion.

Reliance shares rose $4.17, or 20%, to $25.14.

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