SOURCE: Industrial Info Resources

Industrial Info Resources

July 01, 2011 06:45 ET

Worthington Defies Weak Construction Industry to Boast Strong Results for Fiscal 2011, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Jul 1, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Leading diversified metals manufacturer Worthington Industries Incorporated (NYSE:WOR) (Columbus, Ohio) reported solid companywide gains in fiscal fourth-quarter and full-year 2011, as higher steel market prices and an increase in sales volumes in the Steel Processing and Pressure Cylinders segments drove improved results. Net earnings were reported to be $51.92 million for the quarter, a 57.05% increase from fiscal fourth-quarter 2010, and $115.07 million for the year, compared with $45.24 million in full-year 2010.

Worthington Armstrong Venture (WAVE), a joint venture with Armstrong World Industries (NYSE:AWI) that produces metal ceiling grids, contributed $16.1 million to total earnings.

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