Commercial Metals Q4 Profit Soars - Quick Facts

(RTTNews) - Steel and metal products maker Commercial Metals Co. (CMC) said its fourth-quarter net earnings attributable to the company surged to $34.93 million, or $0.29 per share, from $4.1 million, or $0.03 per share, last year. On average, 10 analysts polled by Thomson Reuters expected the company to report profit per share of $0.25 for the quarter. Analysts' estimates typically exclude special items.

Results for the recent period included after-tax LIFO income from continuing operations of $1.0 million, or $0.01 per share, compared with an after-tax LIFO income from continuing operations of $10.3 million, or $0.09 per share, for the fourth quarter of fiscal 2013, the company said.

Quarterly net sales of $1.9 billion, were higher than the prior-year figure of $1.7 billion. Analysts anticipated revenue of $1.82 billion for the quarter.