Commercial Metals Profit Drops

Commercial Metals Company (CMC) announced that it earned 4 cents per share, or $4.6 million, for the second quarter of fiscal 2013 versus earnings of 25 cents in the same period last year, missing estimates by 16 cents. The company attributed the decline to challenging overseas conditions, as well as seasonal softness. Revenue dropped by 12% to 1.73 billion, missing estimates of $1.848 billion.