IPSCO Inc. $106 – Toronto symbol IPS

Article Excerpt

IPSCO INC. $106 (Toronto symbol IPS; SI Rating: Average) (800-667-1616; www.ipsco.com; Shares outstanding: 47.2 million; Market cap: $5.0 billion) produces steel at three North American steelworks: Regina, Saskatchewan; Montpelier, Iowa; and Mobile, Alabama. All three steelworks use electric arc furnace technology to convert scrap steel into liquid steel and then into slabs. The steel is then sold directly to customers or further processed at IPSCO’s finishing plants. Five coil processing plants cut plate and sheet to customer requirements. Six pipe mills produce pipe ranging from one and one-half inches up to 80 inches in diameter. In the three months ended September 30, 2006, IPSCO earned a record $197.1 million or $4.19 a share, up 47.1% from $134 million or $2.81 a share a year earlier. (All figures except share price in U.S. dollars.) Sales rose 37.3%, to $996.9 million from $726.1 million. Long-term debt of $292.2 million is a low 14% of shareholders’ equity. The company holds cash of $743.5 million or…

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