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>
                                                          NINE MONTHS ENDED
                                                            SEPTEMBER 30,
                                                    ----------------------------
                                                       2000             1999
                                                    -----------      -----------
<S>                                                 <C>              <C>        
Net sales                                           $ 1,315,396      $ 1,136,668
Gain from SERP benefit                                       --            2,341
Other income                                              2,438            2,912
                                                    -----------      -----------
                                                      1,317,834        1,141,921
Costs and expenses:
  Cost of sales                                         960,845          836,305
  Warehouse, delivery, selling, administrative
    and general                                         238,336          201,963
  Depreciation and amortization                          21,120           19,054
  Interest                                               18,586           17,609
                                                    -----------      -----------
                                                      1,238,887        1,074,931
Income before equity in earnings of 50%-owned
   company and income taxes                              78,947           66,990
Equity in earnings of 50%-owned company                   2,136            3,208
                                                    -----------      -----------
Income before income taxes                               81,083           70,198

Income taxes:
  Federal                                                28,379           23,797
  State                                                   4,054            3,931
                                                    -----------      -----------
                                                         32,433           27,728
                                                    -----------      -----------
Net income                                          $    48,650      $    42,470
                                                    ===========      ===========
Earnings per share - diluted                        $      1.75      $      1.52
                                                    ===========      ===========
Per share gain from SERP benefit - diluted          $        --      $       .05
                                                    ===========      ===========
Weighted average shares outstanding - diluted        27,796,000       27,879,000
                                                    ===========      ===========
Earnings per share - basic                          $      1.76      $      1.53
                                                    ===========      ===========
Weighted average shares outstanding - basic          27,694,000       27,733,000
                                                    ===========      ===========
Cash dividends per share                            $      .165      $       .13
                                                    ===========      ===========
</TABLE>


See Notes to Consolidated Financial Statements.


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