Thursday, Schnitzer Steel Industries Inc. (SCHN) reported a first-quarter net loss attributable to the company of $8.6 million or $0.30 per share, compared to a loss of $34.0 million or $1.21 per share in the same quarter last year.
Income from continuing operations was $7.22 million or $0.23 per share, compared to loss from continuing operations of $33.0 million or $1.16 per share in the prior year quarter.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.14 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter declined to $394.3 million from $472.0 million in the comparable quarter last year. Analysts expected the company to report revenue of $402.49 million for the quarter.
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