Steel Mills
March 23, 2013
Worthington Reports Solid Performance for Q3
Written by Sandy Williams
Worthington Industries, a diversified metals manufacturing company, reported a one percent gain in net sales in the third quarter ending February 28, 2013, finishing at $619.5 million compared to $611.3 million the prior year. Gross margin improved to $97 million from $83.3 million in 2012, mostly due to gains from Pressure Cylinders and acquisitions.
Steel Processing net sales dropped five percent, or $17.7 million, from the prior year quarter to $349.6 million. Lower average selling prices were blamed for impacting net sales by $21.4 million.
