Business Services Industry

Rising Steel Prices Sink Profits 29 Percent at Omaha, Neb.-Based Manufacturer.

Knight Ridder/Tribune Business News, March, 2004

By Virgil Larson, Omaha World-Herald, Neb. Knight Ridder/Tribune Business News

Mar. 23--Lindsay Manufacturing Co. blamed rising steel prices Tuesday as it reported that second-quarter profits fell 29 percent to $3.5 million, 29 cents a share, compared with a year ago even as revenue rose 7 percent to $51.48 million.

Higher steel prices drove the cost of sales up and reduced the operating margin to 22.6 percent in the quarter that ended Feb. 29 compared with 25.5 percent in the second quarter of fiscal 2003.

Second-quarter profits a year ago were $4.95 million, 42 cents a share, on revenue of $48.13 million.

"Steel costs have continued to rise with unprecedented speed, and we have not been able to pass on the increased costs...

Read the rest of this article with a Free Trial at HighBeam Research.
Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works. HighBeam Research

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:
  1. You are currently: a Guest |
  4.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement
Click Here
  • Your Work How to Win at Office Politics

    How to Win at Office Politics

    Like it or not, every workplace is a political environment. But operating effectively within it doesn’t have to mean sucking up, lying, or slinging dirt. In its purest form, office politics is simply about getting from here to there: securing a promotion, seeing an idea come to fruition, or gaining support to make an organizational change. Playing the game well is about defending your position, earning respect, exchanging favors, and keeping your sanity amid the chaos. To get started, you need to know what you really want from work, then orient your political moves toward those goals. It all starts with strong relationships and helping others; those people in return make up the support system that helps you realize your goals. Here’s how it’s done.

  • Your Industry The Five Worst Drug Companies of 2009

    The Five Worst Drug Companies of 2009

    These five companies have performed even worse than their peers and competitors. Investigations? Insider trading? Dirty factories? Recalls? Management churn? Scandals? They've got it all. In order of incompetence, BNET presents the five worst drug companies of 2009. Drumroll, please ...

  • Your Money 401(k) Mistakes to Avoid

    401(k) Mistakes to Avoid

    You’re counting on your 401(k) to provide a cushy retirement. Or at least food, shelter, and a broadband connection. But many investors undermine their savings plans without even knowing it. We’ve compiled a list of the most common mistakes, and explained how to avoid them.