June 2008 -- For the year ended August 31, 2007, Commercial Metals Co. reported annual net earnings per
diluted share of $2.92 and recorded net earnings of $355 million on net sales of $8.3 billion.
That compares with net earnings per diluted share of $2.89 and net earnings of $356 million on
net sales of $7.2 billion last year. The current year included a pre-tax LIFO expense of $51.2
million ($0.27 per diluted share) compared with a pre-tax LIFO expense of $77.9 million ($0.41
per diluted share) in the previous year.
The current year included $33.8 million of expense due to SAP ERP software. The effective tax
rate decreased to 31.9% mainly due to benefits from international operations, in particular,
Poland. The net earnings return on beginning equity was 29.1%.
The company reports it has paid a cash dividend to shareholders for 172 consecutive financial
quarters. In the past five years, the company reports it has achieved a 511% growth in
shareholder value.
