WASHINGTON (dpa-AFX) - Steel Dynamics Inc. (STLD) reported that its first-quarter net income to company decreased to $45.67 million from $105.90 million last year. Earnings per share attributable to stockholders was $0.20 compared to $0.46 prior year. Net sales decreased to $1.98 billion from $2.02 billion last year.
The company noted that its first-quarter 2012 earnings were reduced by approximately $0.03 per share, representing financing costs of $14 million associated with the January refinancing activities, offset by associated interest cost savings of $3 million.
Analysts polled by Thomson Reuters expected the company to report profit of $0.21 per share on revenue of $2.06 billion for the quarter. Analysts' estimates typically exclude special items.
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