Commercial Metals Company Q4 Profit Down

(RTTNews) - Commercial Metals Company (CMC), Wednesday posted a lower fourth-quarter profit, that included $25.9 million asset impairment charges related to the company's Australian operations.

Net earnings attributable to CMC were $4.05 million or $0.03 per share, compared with $30.2 million or $0.26 per share last year.

On average, eleven analysts polled by Thomson Reuters expected the company to report earnings per share of $0.17 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales decreased to $1.6 billion, from prior year's $1.8 billion. Analysts expected the company to generate revenues of $1.82 billion for th quarter.

Further, the Board declared a quarterly dividend of $0.12 , payable on November 20, to shareholders of record on November 6.