NORTH AMERICA HEADLINESNorth America
ALJ Releases 3rd Quarter Revenue Performance
Jul. 21, 2010 ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenues of
$31.0 million for the third quarter and revenues of $80.5 million for the nine months ended June 30, 2010.
The $31.0 million third-quarter revenues compare to revenues of $19.4 million for the year-ago third quarter. The $80.5 million nine-month revenues compare to revenues of $85.8 million for the comparable nine-month period in fiscal 2009.
"The revenue for the recently-completed third quarter of the 2010 fiscal year was up substantially over the year-earlier quarter,” commented John Scheel, ALJ's Chief Executive Officer. “This was due in roughly equal parts to both increased sales volume and increased pricing. The 2010 fiscal year-to-date results were, however, down slightly compared to comparable period results for fiscal 2009.
“All of this reflects the volatility of the current global economic recovery,” added Scheel. He noted that the company’s full financial results would be published within the next few weeks.
ALJ is the parent company of KES Acquisition Co., which does business as Kentucky Electric Steel, the owner and operator of a steel minimill near Ashland, Ky., producing both merchant bar quality flats (MBQ Bar Flats), and special bar quality steel flats (SBQ Bar Flats).