Commercial Metals Company Reports q2 EPS of $(0.40) vs. $(0.07)

Commercial Metals Company CMC today reported a net loss of $46.2 million or $0.40 per diluted share for the quarter ended February 28, 2011. This compares with a net loss of $173.3 million or $1.53 per diluted share, including a loss of $135.3 million or $1.19 per diluted share from continuing operations, for the second quarter last year. The consolidated pre-tax loss for the Company was $58.7 million, which included pre-tax LIFO expense of $55.7 million compared to pre-tax LIFO expense of $7.4 million in last year's second quarter. At quarter end, the LIFO reserve totaled $291.7 million. Last year's second quarter included $38.1 million of after tax costs associated with our decision to exit the joist and deck business. Net Sale $1.79B