SEC Filings

10-Q
RELIANCE STEEL & ALUMINUM CO filed this Form 10-Q on 11/13/2000
Entire Document
 
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                          RELIANCE STEEL & ALUMINUM CO.

                  Consolidated Statements of Income (Unaudited)
                (In thousands except share and per share amounts)


<TABLE>
<CAPTION>
                                                         THREE MONTHS ENDED
                                                            SEPTEMBER 30,
                                                    ----------------------------
                                                       2000             1999
                                                    -----------      -----------
<S>                                                 <C>              <C>        
Net sales                                           $   443,652      $   380,070
Other income                                                822            1,095
                                                    -----------      -----------
                                                        444,474          381,165
Costs and expenses:
  Cost of sales                                         325,254          275,320
  Warehouse, delivery, selling, administrative
    and general                                          79,038           70,317
  Depreciation and amortization                           7,247            6,613
  Interest                                                6,909            5,699
                                                    -----------      -----------
                                                        418,448          357,949
Income before equity in earnings of 50%-owned
   company and income taxes                              26,026           23,216

Equity in earnings of 50%-owned company                     345            1,173
                                                    -----------      -----------
Income before income taxes                               26,371           24,389

Income taxes:
  Federal                                                 9,230            8,268
  State                                                   1,318            1,366
                                                    -----------      -----------
                                                         10,548            9,634
                                                    -----------      -----------
Net income                                          $    15,823      $    14,755
                                                    ===========      ===========
Earnings per share - diluted                        $       .57      $       .53
                                                    ===========      ===========
Weighted average shares outstanding - diluted        27,601,000       27,953,000
                                                    ===========      ===========
Earnings per share - basic                          $       .58      $       .53
                                                    ===========      ===========
Weighted average shares outstanding - basic          27,504,000       27,779,000
                                                    ===========      ===========
Cash dividends per share                            $      .055      $       .04
                                                    ===========      ===========
</TABLE>


See Notes to Consolidated Financial Statements.


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