AK Steel Reports Profit Increase
AK Steel Holding Corp.’s second-quarter profit rose 32 percent as strong demand drove the steel producer’s prices up 13 percent.
Net income rose to $145.2 million, or $1.29 per share, from $109.9 million, or 98 cents per share, a year ago. Sales jumped 20 percent to $2.24 billion from $1.87 billion as shipments increased slightly and selling prices jumped to $1,287 per ton.
Originally published by staff and wire reports.
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