This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Worthington Industries 4Q Profit Edges Higher

COLUMBUS, Ohio (AP) â¿¿ Worthington Industries saw fourth-quarter net income edge upward thanks to better selling prices and strength in its cylinders unit.

The metals maker's quarterly performance topped Wall Street's expectations and its stock rose in early morning trading.

Worthington Industries earned $52.1 million, or 75 cents, per share, for the three months ended May 31. That compares with $51.9 million, or 70 cents per share, a year ago.

Analysts polled by FactSet executed earnings of 54 cents per share.

There were fewer shares outstanding in the current quarter.

Revenue rose 12 percent to $755.4 million from $675.7 million, buoyed by acquisitions, increased volumes and higher average selling prices in its pressure cylinders division.

Wall Street predicted $683.3 million in revenue.

Worthington Industries' shares gained 77 cents, or 4.4 percent, to $18.40.

Pressure cylinder sales rose 29 percent, while steel processing sales dipped 1 percent.

For the year, Worthington Industries Inc. earned $115.6 million, or $1.65 per share. In the prior year the company earned $115.1 million, or $1.53 per share.

The earnings results were hurt by falling steel prices, recall expenses in its pressure cylinders segment and restructuring charges.

Annual revenue increased xx percent to $2.53 billion from $2.44 billion.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs