ALJ Releases 2nd Quarter Revenue Performance
04/02/2010 - ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenues of $28.5 million for the second quarter, and revenues of $49.5 million for the six months ended March 31, 2010.
ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenues of $28.5 million for the second quarter, and revenues of $49.5 million for the six months ended March 31, 2010.
The $28.5 million second-quarter revenues compare to revenues of $26.4 million for the year-ago second quarter. The $49.5 million six-month revenues compare to revenues of $66.4 million for the comparable year-ago period.
"Revenue for the recently completed quarter was up about 8% over last year’s comparable quarter due to increased volume of 10%,” said John Scheel, ALJ's Chief Executive Officer. “Selling price has actually dropped by 1%.
“The results for the first six months of 2010 as compared to the first six months of 2009 have shown less improvement due to the slowness related to the most recent holiday season," added Scheel.
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).
