ALJ Releases Second Quarter Revenue Performance
04/08/2011 - ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenues of $40.3 million for the second quarter and revenue of $73.0 million for the six months ended March 31, 2011.
ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenues of $40.3 million for the second quarter and revenue of $73.0 million for the six months ended March 31, 2011.
The $40.3 million second-quarter revenues compare to revenues of $28.5 million for the three months ended March 31, 2010. The $73.0 million six-month revenues compare to revenues of $49.5 million for the comparable year-ago period.
"Revenue for the recently completed quarter was up about 41%, due in equal measure to shipments and prices being higher,” commented John Scheel, ALJ's Chief Executive Officer. “Revenue for the first half of the 2011 fiscal year is up about 47% over the previous year for similar reasons.
“As has been our practice, we will release full financial results along with our 10-Q in the middle of May," 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).
