NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1. Segment Results (dollars in millions):

 

(unaudited)
1996 1995
First
Quarter
Fourth
Quarter
Third
Quarter
Second
Quarter
First
Quarter
Net Sales:

Basic Steel Operations

1,095.4 1,130.4 1,210.6 1,225.4 1,210.4

Steel Related Operations

32.2 28.6 23.8 29.4 36.5

Eliminations

(9.1) (7.1) (9.7) (4.6) (6.2)

Total

1,118.5 1,151.9 1,224.7 1,250.2 1,240.7
Operating Income (Loss):

Basic Steel Operations

21.4 66.5 67.5 97.6 79.1

Steel Related Operations

(8.8) (15.2) (11.4) (10.3) (4.9)

Total

12.6 51.3 56.1 87.3 74.2
Shipments

(thousands of net tons):
Basic Steel Operations

2,103 2,143 2,291 2,263 2,273
Raw Steel Production

(thousands of net tons):
Basic Steel Operations

2,259 2,533 2,565 2,729 2,596

2. The Consolidated Financial Statements as of and for the three month periods ended March 31, 1996 and 1996 have not been audited. However, the information reflects all adjustments which, in the opinion of management, are necessary to present fairly the results shown for the periods indicated. Management believes all adjustments were of a normal recurring nature.

3. These Consolidated Financial Statements should be read together with the 1995 audited financial statements set forth in Bethlehem's Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Red Bar

2Q, 1996
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