Business News • MarketWire • Worthington Reports First Quarter Fiscal 2014 Results |
Worthington Reports First Quarter Fiscal 2014 Results |
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Worthington Reports First Quarter Fiscal 2014 Results
COLUMBUS, OH--(Marketwired - Sep 25, 2013) - Worthington Industries, Inc. (NYSE: WOR) today reported net sales of $692.3 million and net earnings of $54.6 million, or $0.76 per share, for its fiscal 2014 first quarter ended August 31, 2013. In last year's first quarter, the Company reported net sales of $666.0 million and net earnings of $34.0 million, or $0.49 per share. Net earnings in the current quarter include an $11.0 million pre-tax gain and a $4.5 million favorable tax adjustment related to the acquisition of an additional 10% interest in the Company's laser welded blanks joint venture, TWB, as described under Recent Business Developments below. The impact of these two items netted with the restructuring and impairment charges, increased earnings by $0.18 per share.
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