Worthington Industries Reports Strong Sales, Profits
Worthington Industries is reporting better-than-expected profits and sales in the most-recent quarterly report.
The Columbus-based manufacturer and steel maker posted earnings of nearly $32 million in the quarter that ended in November. That’s nearly triple the earnings during the same period in 2011.
Sales shot up by $55 million during the same three months.
CEO John McConnell credited the strong quarter, which came as steel prices continue to decline, to a series of recent acquisition s. That includes Westerman, a Fairfield county-based company that makes equipment used in shale drilling.
The strong performance almost exactly a year after the company had to shell out nearly $10 million for a recall of faulty pressure cylinders.