Steel Technologies Inc. (STTX)

Steel Technologies, Inc. operates as a processor and converter of flat-rolled steel in North America. It processes flat rolled steel to specified thickness, width, temper, and finish requirements for customers’ manufacturing processes. The company’s processed products include cold-rolled strip and sheet, cold-rolled one-pass strip, high carbon and alloy strip and sheet, hot-rolled sheet, high strength low alloy strip and sheet, coated strip and sheet, and hot-rolled pickled and oiled sheet and tin plate. In addition, Steel Technologies toll processes steel for steel mills, large end-users, service centers, and other processors. The company serves customers in the automotive, appliance, lawn and garden, office furniture, agriculture, construction, hardware, and consumer goods industries in the United States, Canada, and Mexico. Steel Technologies was founded in 1971 and is based in Louisville, Kentucky.

For the fiscal year ended 30 September 2006, Steel Technologies, Inc.'s net sales fell 9% to $876.1M. Net income from continuing operations fell 60% to $13.7M. Revenues reflect a decrease in the number of tons shipped and lower average selling price of steel. Net income also reflects lower operating margins due to an increase in delivery costs, higher labor costs & related firnge benefits and an increase in fuel costs.