ALJ Releases Third Quarter 2011 Revenue Performance
07/11/2011 - ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenues of $43.3 million the third quarter and revenues of $116.2 million for the nine months ended June 30, 2011.
ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenues of $43.3 million the third quarter and revenues of $116.2 million for the nine months ended June 30, 2011.
The $43.3 million third quarter revenues compare to revenues of $31.0 million in the year-ago third quarter. Nine-month revenues of $116.2 million compares to revenues of $80.5 million for the comparable nine-month period in fiscal 2010.
"The revenue for the recently-completed third quarter of the 2011 fiscal year was up nearly 40 percent over the year-earlier quarter,” said John Scheel, ALJ's Chief Executive Officer. “This was about two-thirds due to increased sales volume and one-third to increased pricing. The year-over-year fiscal year-to-date results were even better with volume and pricing sharing nearly equally in improvement.
“Our full financial results, which will be published within the next few weeks, will also reflect the recent equitization of all of the ALJ securities senior to the common shareholders,” added Scheel. “We are looking forward to meeting with our shareholders on July 18th in New York City."
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).
