Metals USA Holdings Corp. (MUSA) reported that its fourth-quarter net income decreased to $3.7 million or $0.10 per share from $14.0 million or $0.37 per share last year. Excluding discrete items, fourth-quarter 2012 profit per share was $0.23.
On average, 14 analysts polled by Thomson Reuters expected the company to report fourth-quarter profit of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales decreased to $437.5 million from $455.7 million last year. Analysts expected revenue of $455.68 million for the quarter.
The company said, during the fourth-quarter, the market continued to be impacted by too much steel chasing too few orders. Fourth-quarter gross margin was 23.2%.
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