WASHINGTON (dpa-AFX) - Schnitzer Steel Industries, Inc. (SCHN) Thursday reported lower earnings for the second quarter of 2014 reflecting lower revenues.
The net income attributable to SSI declined to $2 million or $0.07 per share from $9 million or $0.32 per share in the prior-year period. On an adjusted basis, earnings were $3 million or $0.06 per share.
On average 8 analysts polled by Thomson-Reuters had expected the company to earn $0.07 per share for the quarter. Analyst's estimate typically exclude one-time items.
The company's second-quarter revenues dropped to $626 million from $662 million in the same period, last year. Analysts had estimated revenues to be $659.93 million for the quarter.
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