Schnitzer Steel Industries Inc. Q4 Earnings Advance 89%

(RTTNews) - Schnitzer Steel Industries Inc. (SCHN) released a profit for its fourth quarter that gained ground from last year.

The company said its bottom line totaled $17 million, or $0.60 per share. This was up from $9 million, or $0.31 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.45 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 14.4% to $391 million. This was down from $457 million last year.

Schnitzer Steel Industries Inc. earnings at a glance:

-Earnings (Q4): $17 Mln. vs. $9 Mln. last year. -Earnings Growth (Y-o-Y): 88.9% -EPS (Q4): $0.60 vs. $0.31 last year. -EPS Growth (Y-o-Y): 93.5% -Analysts Estimate: $0.45 -Revenue (Q4): $391 Mln vs. $457 Mln last year. -Revenue Change (Y-o-Y): -14.4%