U.S. Markets close in 1 hr 8 mins

Schnitzer Steel posts 4Q profit

PORTLAND, Ore. (AP) _ Schnitzer Steel Industries Inc. (SCHN) on Tuesday reported fiscal fourth-quarter earnings of $18.2 million.

On a per-share basis, the Portland, Oregon-based company said it had profit of 64 cents. Earnings, adjusted for non-recurring gains, were 63 cents per share.

The recycler of ferrous and nonferrous scrap metal posted revenue of $494.3 million in the period.

For the year, the company reported net income of $44.5 million, or $1.58 per share, swinging to a profit in the period. Revenue was reported as $1.69 billion.

Schnitzer Steel shares have climbed 16 percent since the beginning of the year. The stock has increased 28 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SCHN at https://www.zacks.com/ap/SCHN