SCOTTSDALE, Ariz. (AP) — SCOTTSDALE, Ariz. (AP) — Reliance, Inc. (RS) on Wednesday reported fourth-quarter net income of $105.3 million.
The Scottsdale, Arizona-based company said it had net income of $1.93 per share. Earnings, adjusted for one-time gains and costs, were $2.22 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.74 per share.
The metals service-center company posted revenue of $3.13 billion in the period.
For the year, the company reported profit of $875.2 million, or $15.56 per share. Revenue was reported as $13.84 billion.
For the current quarter ending in March, Reliance expects its per-share earnings to range from $3.30 to $3.50.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RS at https://www.zacks.com/ap/RS
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