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Reliance Steel Aluminum Co

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BUSINESS
July 3, 1995 | Times Staff and Wire Reports
Reliance to Buy Interest in Venture: The Los Angeles firm said it plans to acquire a 50% interest and complete operational control of American Steel, a newly formed company. Reliance Steel & Aluminum Co. said it will pay $19.25 million for the partial acquisition and, according to the agreement, will acquire the remaining 50% of the company at a later date.
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BUSINESS
December 16, 2013 | By Stuart Pfeifer
You've probably never heard of Reliance Steel & Aluminum Co. And that's a little bit frustrating to David Hannah, who has guided the Los Angeles company to staggering growth since he was named its chief executive 14 years ago. "It seems in Southern California if you aren't in media or entertainment, you don't get noticed," he said. Reliance's business model isn't exactly sexy. The metal service center company buys bulk metal from steel mills, processes it and sells it to machine shops and other businesses.
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BUSINESS
October 20, 2006
Reliance Steel & Aluminum Co., a Los Angeles metals distributor, said profit more than doubled to a record in the third quarter on rising demand and the acquisition of Yarde Metals Inc. Net income rose to $107.5 million, or $1.41 a share, from $49.4 million, or 75 cents, a year earlier.
BUSINESS
December 16, 2013
The company: Reliance Steel & Aluminum Co. Headquarters: Los Angeles Ticker: RS Employees: 14,000 Leadership: David Hannah, chief executive since 1999 2012 revenue: $8.4 billion 2012 net income: $404 million Stock price: $72.34 at Friday's close 52-week range: $59.16 to $76.78 P/E ratio: 17, based on estimated 2013 earnings Quarterly dividend: 33 cents, a current yield of 1.8%
BUSINESS
February 19, 1999
Reliance Steel & Aluminum Co., a Torrance-based metals service center company, reported record fourth-quarter net income of $11.5 million, or 62 cents per share, compared with $10.5 million, or 60 cents, a year ago. Revenue rose 35% to $353 million.
BUSINESS
February 22, 2008 | From Times Wire Services
Metals processor and distributor Reliance Steel & Aluminum Co. said its fourth-quarter profit rose, helped by an improved pricing environment. Net income was $79.9 million, or $1.06 a share, compared with $74.6 million, or 98 cents, in the same quarter of 2006, the Los Angeles firm said. Revenue rose 9% to $1.71 billion.
BUSINESS
December 29, 2006 | From Bloomberg News
Reliance Steel & Aluminum Co. agreed to buy the Encore Group of metals service-center companies to expand metal sales to oil and gas producers in western Canada. Encore, based in Edmonton, Canada, had sales of 254.8 million Canadian dollars ($219.7 million) in 2005, Los Angeles-based Reliance said. Financial details weren't disclosed.
BUSINESS
February 21, 2003 | From Bloomberg News
Reliance Steel & Aluminum Co., a metals distributor, said fourth-quarter earnings fell 56% as it paid more for steel and demand from more profitable aerospace and semiconductor customers fell. Net income declined to $1.94 million, or 6 cents a share, from $4.37 million, or 14 cents, the Los Angeles-based company said. Sales rose 14% to $434.5 million. Reliance shares rose 14 cents to $16.14 on the NYSE.
BUSINESS
July 12, 2006 | From Bloomberg News
Reliance Steel & Aluminum Co. agreed to buy Yarde Metals Inc., which processes and distributes stainless-steel and aluminum-plate products, to increase sales in the Northeast. Yarde Metals had sales of $385 million in the year ended June, Los Angeles-based Reliance said. Reliance said it expected the transaction to be completed within 60 days. The purchase price wasn't disclosed.
BUSINESS
October 19, 2007 | From Times Wire Services
Metals processor and distributor Reliance Steel & Aluminum Co. said its third-quarter profit slipped 13% because of softer demand for some products and declines in stainless-steel prices. Net income was $93.6 million, or $1.22 a share, compared with $107.5 million, or $1.41, a year earlier, the Los Angeles-based company said. Revenue rose 11% to $1.81 billion. The earnings came in below the average forecast of analysts of $1.34 a share, according to data compiled by Reuters Estimates.
BUSINESS
June 18, 2008 | Andrea Chang, Times Staff Writer
A booming market for steel is paying off big for two Los Angeles-area companies. L.A.-based Reliance Steel & Aluminum Co. said Tuesday that it had agreed to buy a smaller metal processor from Beverly Hills-based buyout firm Platinum Equity for more than $300 million. For Reliance, the country's largest metal processor, the purchase of Atlanta-based PNA Group Holding Corp. would extend a string of more than 40 acquisitions since the company went public in 1994. Reliance's stock jumped $2.
BUSINESS
February 22, 2008 | From Times Wire Services
Metals processor and distributor Reliance Steel & Aluminum Co. said its fourth-quarter profit rose, helped by an improved pricing environment. Net income was $79.9 million, or $1.06 a share, compared with $74.6 million, or 98 cents, in the same quarter of 2006, the Los Angeles firm said. Revenue rose 9% to $1.71 billion.
BUSINESS
October 20, 2007 | From Times Wire Services
American, Northwest and US Airways joined other major airlines in raising most U.S. round-trip fares by as much as $20 as jet fuel prices near record highs. The fare hikes were initiated Wednesday by United Airlines. Six of the seven largest U.S. carriers have joined in the increase. Only Southwest Airlines held the line on fares. The price of jet fuel has climbed 37% this year and is $2.43 a gallon in New York. The price hit $2.49 in September 2005.
BUSINESS
October 19, 2007 | From Times Wire Services
Metals processor and distributor Reliance Steel & Aluminum Co. said its third-quarter profit slipped 13% because of softer demand for some products and declines in stainless-steel prices. Net income was $93.6 million, or $1.22 a share, compared with $107.5 million, or $1.41, a year earlier, the Los Angeles-based company said. Revenue rose 11% to $1.81 billion. The earnings came in below the average forecast of analysts of $1.34 a share, according to data compiled by Reuters Estimates.
BUSINESS
December 29, 2006 | From Bloomberg News
Reliance Steel & Aluminum Co. agreed to buy the Encore Group of metals service-center companies to expand metal sales to oil and gas producers in western Canada. Encore, based in Edmonton, Canada, had sales of 254.8 million Canadian dollars ($219.7 million) in 2005, Los Angeles-based Reliance said. Financial details weren't disclosed.
BUSINESS
October 20, 2006
Reliance Steel & Aluminum Co., a Los Angeles metals distributor, said profit more than doubled to a record in the third quarter on rising demand and the acquisition of Yarde Metals Inc. Net income rose to $107.5 million, or $1.41 a share, from $49.4 million, or 75 cents, a year earlier.
BUSINESS
April 6, 2005 | From Bloomberg News
Reliance Steel & Aluminum Co.'s first-quarter profit will jump to as much as $1.40 a share, the company said Tuesday. The preliminary earnings statement topped analysts' estimates and sent the price of Reliance stock up 7.5%. According to the disclosure, net income will be $1.30 to $1.40 a share, up from 92 cents a year earlier. The Los Angeles-based metals distributor said final results would be released April 21. Earnings topped the company's Feb. 17 forecast of $1.05 to $1.
BUSINESS
July 12, 2006 | From Bloomberg News
Reliance Steel & Aluminum Co. agreed to buy Yarde Metals Inc., which processes and distributes stainless-steel and aluminum-plate products, to increase sales in the Northeast. Yarde Metals had sales of $385 million in the year ended June, Los Angeles-based Reliance said. Reliance said it expected the transaction to be completed within 60 days. The purchase price wasn't disclosed.
BUSINESS
April 6, 2005 | From Bloomberg News
Reliance Steel & Aluminum Co.'s first-quarter profit will jump to as much as $1.40 a share, the company said Tuesday. The preliminary earnings statement topped analysts' estimates and sent the price of Reliance stock up 7.5%. According to the disclosure, net income will be $1.30 to $1.40 a share, up from 92 cents a year earlier. The Los Angeles-based metals distributor said final results would be released April 21. Earnings topped the company's Feb. 17 forecast of $1.05 to $1.
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