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News Watch
- 6/30/2009 1:57:36 PM
By Chip Brian, SmarTrend Analytics Team
Shares of Schnitzer Steel Industries (NASDAQ:SCHN) fell more than 11% during Tuesday trading after the company posted a quarterly loss of 5 cents per share, badly missing consensus estimates for a 16 cent per share profit. The Oregon-based scrap-metal recycler has now badly missed profit expectations with reported losses for two consecutive quarters. Third quarter revenue dropped to $318 million from $810 million one year ago.
Contact Chip Brian
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