Oregon Steel Mills ( OS) said its second-quarter earnings rose 54.6% from the year-ago, on improved performance at all of its market segments. The Portland, Ore.-based company earned $43.9 million, or $1.22 a share, in the quarter, compared with $28.4 million, or 80 cents a share, a year ago. Analysts surveyed by Thomson First call were expecting earnings of $35.4 million, or 98 cents a share. Second-quarter revenue rose 4.4% from a year ago to $349.6 million as against analysts' expectation of $359.7 million. The company expects to generate revenue of $1.6 billion for the full year. Analysts too are expecting revenue of $1.6 billion for the full year. ''We have recently implemented price increases on selected non-energy-related products such as plate and rod. As a result of the anticipated volume increase and shift in product mix, we expect the second half of the year will result in records for revenue, shipments and operating income for our Company." Second-quarter operating income rose 30.7% from a year ago to $70.6 million and operating margin jumped 408 basis points to 20.2%. By segment, second-quarter revenue from Oregon steel division fell 10.5% from a year ago to $191.8 million and revenue from Rocky Mountain steel mills division rose 30.8% to $157.7 million. Average sales price per ton in the second quarter was $889 compared with $882, a year ago. Total shipments for the quarter were 393,200 tons compared with shipments of 379,600 tons, a year ago. The company said that it will record a charge of $21.1 million, or 37 cents a share, in the third quarter related to its recent redemption of all of its outstanding 10% first mortgage notes due July 15, 2009.