2003 News Archives
10/13/03 CSI Reports Third Quarter
2003 Results
7/21/03 CSI Reports
Second Quarter 2003 Earnings
4/14/03 CSI Reports
First Quarter 2003 Earnings
4/8/03 Vicente Wright
named President/C.E.O. of California Steel Industries
3/25/03 10K
2002
2/18/03 C. Lourenço Gonçalves
Resigns from California Steel Industries; Vicente Wright to Assume as Acting
Interim President/C.E.O.
1/6/03 CSI Reports
Record Sales in 2002
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CSI Reports Third Quarter 2003 Results
October 13, 2003 – California Steel Industries, Inc. (“CSI”) today reported sales of $191.2 million for third quarter 2003, on shipments of 507,683 tons, and a net loss of $3.95 million. EBITDA totaled $3.35 million. Sales volume was only slightly less than the same period last year, while continued downward pressure on sales prices resulted in a reduction in net sales dollars. Year-to-date net income totals $1.4 million on sales of $571.6 million. More...
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CSI Reports Second Quarter 2003 Results
July 21, 2003 – California Steel Industries, Inc. (“CSI”) today reported net income of $20,000 for the second quarter with an EBITDA totaling $10.8 million. Sales revenues for the quarter totaled $181.6 million, on 447,395 tons billed, a decline in volume of almost 17 percent compared to the same quarter last year. More...
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CSI Reports First Quarter 2003 Results
April 14, 2003 -- California Steel Industries, Inc. (“CSI”) today reported first quarter results for fiscal 2003. CSI sold more than 442,000 tons of steel products during the first quarter, which represents a 7% decline compared to tonnage sold in the same quarter last year. However, as a result of a continued improvement in product mix, CSI’s first quarter 2003 net income was $5.4 million. EBITDA for the quarter totaled $19.3 million, exceeding EBITDA generated in the same period last year by $5.7 million. More...
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Vicente Wright named President/C.E.O. of California Steel Industries
April 8, 2003 -- California Steel Industries, Inc. ("CSI") announces that Vicente Wright has been confirmed as the new President and Chief Executive Officer of the corporation, effective retroactively to February 22, 2003.
Mr. Wright joined CSI in 1998 as Executive Vice President, Finance. He previously held positions as Steel Division General Manager and Iron Ore Sales General Manager at Companhia Vale do Rio Doce, both in their Rio de Janeiro and Tokyo offices. He has served as a member of the Board of Directors of Companhia Siderugica Nacional and Acominas, both of Brazil, of Siderar in Argentina, of SEAS, a ferro-manganese plant in France, and as Chairman of Nova Era Silicon, a ferro-silicon mill in Brazil. Mr. Wright graduated from Marquette University, Wisconsin, with a Bachelor's Degree in Business Administration.
“I am very pleased that our Board of Directors has asked me to assume this responsibility,” said Mr. Wright. “With the dedication of the great team we have at CSI, with our customers’ loyalty, and with our shareholders’ support, CSI will maintain our leadership role in the Western United States.” Mr. Wright also continues to oversee financial operations of the company, pending appointment of a new vice president.
California Steel Industries is the leading producer of flat-rolled steel products in the Western United States, with products including hot rolled, cold rolled, galvanized and electric resistance welded pipe. It produces more than 2.0 million tons annually, employing more than 900 people.
This release may contain forward-looking statements relating to future financial results. Actual results may differ materially as a result of factors over which the Company has no control. These risk factors and additional information are included in the Company’s reports filed with the Securities and Exchange Commission..
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C. Lourenço Gonçalves Resigns from California Steel Industries;
Vicente Wright to Assume as Acting Interim President/C.E.O.
February 18, 2003 -- California Steel Industries, Inc. (“CSI”) today announced that C. Lourenço Gonçalves, President and Chief Executive Officer has resigned effective February 21, 2003.
The Board has named Vicente Wright President and Chief Executive Officer on an interim basis, until a new President and C.E.O. is elected. Mr. Wright is currently CSI’s Executive Vice President, Finance and Chief Financial Officer. He has been with the company since 1998.
California Steel Industries is the leading producer of flat-rolled steel products in the Western United States, with products including hot rolled, cold rolled, galvanized and electric resistance welded pipe. It produces more than 2.0 million tons annually, employing more than 900 people. CSI Reports Record Sales in 2002
January 6 , 2003 -- California Steel Industries, Inc. (“CSI”) today reported record sales exceeding two million tons for 2002. As a result of strong sales performance and improved margins, CSI fourth quarter 2002 net income was $9.9 million. EBITDA for the quarter totaled $27.3 million. More...
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