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On Jan. 26, 2009,

Steel Dynamics

(STLD) - Get Report

reported a net loss of $82.67 million or $0.45 per share for Q4 FY08 compared to a profit of $97.87 million or $0.50 per share in the prior year's quarter, hurt by lower revenue and losses from unrealized hedging losses and inventory write-downs. The most recent consensus estimate was a loss of $0.33 per share.

Total revenue declined 16.6% to $1.21 billion from $1.45 billion a year ago, due to lower volumes coupled with falling prices across business segments. Looking at the company's business segments, Steel operations' revenue, which represented 63.0% of total revenue, stood at $860.00 million on shipments of 942,439 tons. The average selling price increased 28.6% to $913 per ton from $710 per ton a year ago. Revenue from Metals Recycling and Ferrous Resources stood at $389.00 million. Moreover, revenue from Steel Fabrication operations was $93.00 million on shipments of 63,783 tons, while the average selling price increased 9.1% to $1,461 from $1,339 a year ago.

During the quarter under review, STLD declared a quarterly cash dividend of $0.10 per common share.

For FY08, total revenue surged 84.3% to $8.08 billion from $4.38 billion in the previous year. Net income soared 17.4% to $463.39 million or $2.38 per share from $394.57 million or $2.01 per share in FY07.

Looking forward to Q1 FY09, the company expects to return to profitability and estimates its earnings per share to be in the range of $0.05 per share to $0.15 per share. For FY09, Steel Dynamics expects capital expenditure of $350.00 million.

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