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Reliance Steel & Aluminum (NYSE:RS) reported a fourth-quarter profit on Thursday that beat most expectations, but shares fell after the company said there was too much uncertainty over demand to provide further guidance. The company, which has clients in the aerospace, energy and construction industries, said it expects a slow recovery this year and that prices will remain mostly flat through the first quarter.
Reliance said it made $1.25 per share during the quarter that ended Dec. 31. That's a 38.9 percent increase compared with its profit of $66.3 million, or 90 cents per share, during the same period in 2008. The most recent profit included a tax-related gain of 20 cents per share as well as $60.2 million in additional pretax accounting credits.
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