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Schnitzer Steel Industries Posts 2Q Loss

Stock quotes in this article: SCHN  

PORTLAND, Ore. (AP) — Schnitzer Steel Industries Inc. posted a fiscal second-quarter loss Thursday as the recession continued to pound demand for steel products.

The Portland, Ore., company said it lost about $7 million, or 25 cents per share, compared with a profit of $35.9 million, or $1.25 per share, in the year-ago period.

Analysts surveyed by Thomson Reuters expected Schnitzer Steel to earn 5 cents per share on revenue of $426.6 million. ...

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