Schnitzer Steel Reports Strong 2010 Performance; Q4 EPS $.58

Schnitzer Steel Industries, Inc.

today reported diluted earnings per share from continuing operations of $0.58 for its fiscal 2010 fourth quarter ended August 31, 2010. This compares with diluted earnings per share from continuing operations of $0.35 for the same quarter of fiscal 2009. For the 2010 fiscal year, Schnitzer reported full year revenues of $2.3 billion, compared to $1.8 billion in fiscal year 2009, and diluted earnings per share from continuing operations of $2.86, compared to a loss per share from continuing operations of ($0.99) in fiscal 2009.