ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, May 17, 1990                   TAG: 9005170085
SECTION: BUSINESS                    PAGE: B-9   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

LOWER PRICES BLAMED FOR STEEL EARNINGS DROP

Lower selling prices and reduced profit margins were blamed by Roanoke Electric Steel Corp. for a 43 percent decline in net earnings and a 10 percent drop in sales for the second quarter.

Earnings came to $1.9 million or 37 cents a share, down from $3.4 million or 64 cents a share. Sales were $37.7 million, off from $41.7 million.

Chairman Don Smith said that although the figures were down from a record pace last year, stronger demand and improved price levels for bar products came in the period ending April 30. Earnings for the second quarter were up 24 percent from the first period.

- Staff report 


 by CNB