WCI Steel net dips 17% for February

By Ted A. Knutson

Washington, March 21 - WCI Steel, Inc. said it had net income of $12.76 million for February, down 17% from January's $15.33 million, according to a filing Friday with the U.S. Bankruptcy Court for the Northern District of Ohio.

Cash on hand at the end of the month declined by almost two-thirds to $2.91 million from the earlier total of $8.68 million.

Operating income was $13.04 million for the month, down from $15.73 million in January.

February revenues of $67.46 million were in a hair's-breadth of January's $67.69 million.

The Warren, Ohio-based steel company filed for Chapter 11 on Sept. 16, 2003. Its case number is 03-44662.

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