Commercial Metals Co. (CMC) 2004年年度报告「NYSE」.pdf

1、C O M M E R C IAL M ETAL S C O M PANY 2004 Annual Report2Financial Highlights 8Domestic Mills 12CMCZ 16Domestic Fabrication 20Recycling 24Marketing&Distribution 74Operations 76Divisions and Subsidiaries Since 1915,Commercial Metals Company has seized everyopportunity to forge itself into an ever str

2、onger enterprise.In 2004,CMCraised the bar for itself again,emphatically.We earned more in fiscal 2004than we ever have before.In both the third and fourth quarters alone,in fact,CMCearned morethan we ever had in any single previous year!Unquestionably,oursuccess was bolstered by favorable market fo

3、rces,including highprices,strong demand in Asia,an improving U.S.economy and aweak U.S.dollar.But equally unquestionably,our unprecedentedsuccess was built on the measures we have taken over the years including diversification by product,business segment andgeography to put CMCin a position of stren

4、gth to withstandchallenging economic times and reap the benefits of favorable ones.RAISINGTHE BARFinancial HighlightsYear ended August 31,(in thousands,except share data)20042003%IncreaseNet sales$4,768,327$2,875,88566Net earnings132,02118,904598Diluted earnings per share4.420.66570Net working capit

5、al640,755399,42560Cash dividends per share0.340.326Cash dividends paid9,7649,0398Average diluted shares outstanding29,844,33928,605,5954Stockholders equity660,627506,93330Stockholders equity per share22.5618.1125Total assets1,988,0461,283,25555Tonnages Shipped(short tons in thousands)200420032002200

6、12000Domestic steel mill rebar shipments 1,0141,007971833808Domestic steel mill structural and other shipments1,3871,2771,2001,0701,045CMCZ shipments1,082Total mill tons shipped3,4832,2842,1711,9031,853Fab plant rebar shipments890663559535472Fab plant structural,joist and post shipments4213654254514