KENTUCKY ELECTRIC STEEL HEADLINESSteel Producers /
Kentucky Electric Steel
ALJ Reports First Quarter Revenue Performance
Jan. 26, 2012 ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenue of $38.9 million for the first fiscal quarter, which ended December 31, 2011.
ALJ’s first quarter revenue of $38.9 million compares to revenue of $32.7 million for the year-ago first quarter.
“The revenue improvement for the first quarter was pretty much driven by the high prices for scrap, which translated into higher product selling prices,” said John Scheel, ALJ’s Chief Executive Officer.
“Overall, shipments were up about 2.1%, as we operated at about 66% of capacity, and selling prices were up about 15.4%.”
ALJ is the parent of Kentucky Electric Steel, a steel mini-mill near Ashland, Ky. Kentucky Electric produces steel bar as both merchant bar quality flats (MBQ Bar Flats) and special bar quality flats (SBQ Bar Flats).