Tanners said the company LIFO (last in

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The company posted strong earnings of $1.22 a a share when adjusted to the commonly used FIFO (first in, first out) inventory accounting cheap moncler jackets wholesale method, Timna Tanners, an analyst moncler chicago with UBS, said in a note to clients.Tanners said the company LIFO (last in, first out) method to account for inventories understates net earnings in a rising steel and scrap price environment compared with peers.For the third quarter, the company moncler coats cheap reported net income of $59.5 million, or 51 cents a share, compared with $99.4 million, or 82 cents a share, a year earlier.It recorded a LIFO moncler outlet ny expense of 71 cents a share.Third quarter moncler jackets toronto revenue rose 31.8 percent to $2.91 billion.Analysts were expecting the company to cheap moncler earn 70 cents a share, before special items, on revenue of $2.61 billion, according to Reuters Estimates.results saw record scrap moncler jackets outlet segment results and strong mill shipments helped by exports, but continued downstream weakness on costs, moncler outlet store Tanners said. She has a rating on the stock.For the fourth quarter, the company expects LIFO earnings per share of between 90 cents and $1 a share. Analysts are expecting earnings, before special items, of 85 cents moncler outlet location a share.Tanners said although the company forecast moncler outlet online assumes no LIFO expense, she expects the company to take another big LIFO charge in the next quarter.She expects scrap prices to rise 19 percent, or $88 per ton, in the August quarter.Commercial Metals also sees solid demand for scrap, raw materials and steel products during the quarter, and expects prices of reinforcing bar steel at record levels.Shares of the Irving, Texas based company were trading up $2.31 at $38.70 Wednesday on the New York Stock Exchange, after moncler jackets outlet online touching an intraday high of $28.74 Moncler Factory Outlet.

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