Chaparral Steel Company: Quarterly Profit
Triples
07/12/2006
After the market closed today, Chaparral
Steel Company (ticker: CHAP) released its latest quarterly
results which showed that quarterly
profits more than tripled due to strong demand, especially
in the non-residential construction market. In after-hours
trading, the company's stock price rose 2.6%.
Chaparral has authorized a two-for-one stock
split. The record date for the stock split will be August
15 and distribution of the shares will occur on Sept. 1.
Chaparral is part of our Primary
Stock Portfolio. The steel company has seen its stock
rise 229.3% after being added to the portfolio nine months
ago.
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